Gold Movement
Gold prices traded lower by 0.52% against the USD in the 24-hour period ending 23:00GMT, at 1225.10 per ounce, amid a broad based recovery in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1227.1, with the gold trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 1218.37, and a fall through could take it to the next support level of 1209.63. The pair is expected to find its first resistance at 1234.67, and a rise through could take it to the next resistance level of 1242.23.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
