Gold Movement
Gold prices traded lower by 1.47% against the USD in the 24 hour period ending 23:00GMT, at 1366.37 per ounce, as strong industrial production data from the US weighed on the demand-outlook of safe-haven assets.
In the Asian session, at GMT0400, Gold is trading at 1360.20, 0.45% lower from yesterday’s close.
Gold is expected to find support at 1349.86, and a fall through could take it to the next support level of 1339.52. Gold is expected to find its first resistance at 1377.81, and a rise through could take it to the next resistance level of 1395.42.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
