Gold Movement
Gold prices traded higher by 1.40% against the USD in the 24 hour period ending 23:00GMT, at 1123.60 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1120.8, with gold trading 0.25% lower from yesterday’s close.
The pair is expected to find support at 1110.83, and a fall through could take it to the next support level of 1100.86. The pair is expected to find its first resistance at 1128.53, and a rise through could take it to the next resistance level of 1136.26.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
