Gold Movement
Gold prices traded lower by 0.85% against the USD in the 24 hour period ending 23:00GMT, at 1114.10 per ounce, as the greenback strengthened, backed by upbeat economic data from the US.
In the Asian session, at GMT0300, the pair is trading at 1112.70, with gold trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1108.53, and a fall through could take it to the next support level of 1104.36. The pair is expected to find its first resistance at 1119.93, and a rise through could take it to the next resistance level of 1127.16.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
