Gold Movement
Gold prices traded lower by 0.22% against the USD in the 24 hour period ending 23:00GMT, at 1240.07 per ounce, amid a broadly stronger greenback on the back of encouraging economic data from the US.
In the Asian session, at GMT0400, Gold is trading at 1240.16, tad higher from yesterday’s close.
Gold is expected to find support at 1231.51, and a fall through could take it to the next support level of 1222.86. Gold is expected to find its first resistance at 1251.89, and a rise through could take it to the next resistance level of 1263.62.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
