Gold Movement
Gold prices traded lower by 0.28% against the USD in the 24 hour period ending 23:00GMT, at 1189.40 per ounce, as a broad strength in the greenback dampened gold’s allure.
In the Asian session, at GMT0300, the pair is trading at 1187.6, with the gold trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1179.50, and a fall through could take it to the next support level of 1171.40. The pair is expected to find its first resistance at 1200.20, and a rise through could take it to the next resistance level of 1212.80.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
