Gold Movement
Gold prices traded lower by 0.98% against the USD in the 24 hour period ending 23:00GMT, at 1328.69 per ounce, as concerns over a possible US government showdown weighed on the demand prospect of the precious metal.
In the Asian session, at GMT0300, Gold is trading at 1328.69, flat from yesterday’s close.
Gold is expected to find support at 1319.83, and a fall through could take it to the next support level of 1310.97. Gold is expected to find its first resistance at 1340.52, and a rise through could take it to the next resistance level of 1352.35.
The yellow metal is trading just below its 20 Hr and 50 Hr moving averages.
