Gold Movement
Gold prices traded lower by 0.20% against the USD in the 24 hour period ending 23:00GMT, at 1319.80 per ounce, as a stronger US dollar weighed on the demand outlook of the dollar-denominated commodity.
In the Asian session, at GMT0300, Gold is trading at 1318.03, 0.13% lower from yesterday’s close.
Gold is expected to find support at 1312.13, and a fall through could take it to the next support level of 1306.23. Gold is expected to find its first resistance at 1327.25, and a rise through could take it to the next resistance level of 1336.47.
The yellow metal is trading just below its 20 Hr and 50 Hr moving averages.
