Gold Movement
Gold prices traded lower by 0.74% against the USD in the 24 hour period ending 23:00GMT, at 1303.29 per ounce, as a positive economic data from Europe and the US dampened yellow metal’s safe haven appeal.
In the Asian session, at GMT0300, Gold is trading at 1291.95, 0.87% lower from yesterday’s close.
Gold is expected to find support at 1280.78, and a fall through could take it to the next support level of 1269.61. Gold is expected to find its first resistance at 1312.16, and a rise through could take it to the next resistance level of 1332.37.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
