Gold Movement
Gold prices traded lower by 0.17% against the USD in the 24 hour period ending 23:00GMT, at 1308.30 per ounce, amid light trading as Japan, Hong Kong and South Korea markets were all closed for public holidays. However, a weakness in the US Dollar and lingering tensions in Ukraine kept the losses in check.
In the Asian session, at GMT0300, Gold is trading at 1313.50, 0.40% higher from yesterday’s close.
Gold is expected to find support at 1307.17, and a fall through could take it to the next support level of 1300.83. Gold is expected to find its first resistance at 1317.07, and a rise through could take it to the next resistance level of 1320.63.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
