Gold Movement
Gold prices traded lower by 0.16% against the USD in the 24 hour period ending 23:00GMT, at 1198.50 per ounce, amid a broad strength in the greenback. Meanwhile, holdings in the SPDR Gold Trust remained unchanged at 760.80 tons.
In the Asian session, at GMT0400, the pair is trading at 1199.60, with the gold trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 1193.96, and a fall through could take it to the next support level of 1188.33. The pair is expected to find its first resistance at 1207.06, and a rise through could take it to the next resistance level of 1214.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
