Gold Movement
Gold prices traded 0.06% higher against the USD in the 24 hour period ending 23:00GMT, at 1186.0 per ounce, following disappointing economic releases from the US.
Yesterday, the SPDR Gold trust reported that its gold holdings increased for the first time in two weeks, advancing from a six-year low.
In the Asian session, at GMT0400, the pair is trading at 1185.80, with the gold trading marginally lower from yesterday’s close.
The pair is expected to find support at 1180.26, and a fall through could take it to the next support level of 1174.73. The pair is expected to find its first resistance at 1191.86, and a rise through could take it to the next resistance level of 1197.93.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
