Gold Movement
Gold prices traded lower by 0.21% against the USD in the 24 hour period ending 23:00GMT, at 1309.00 per ounce as tensions in the Middle East and Russia-Ukraine subsided on expectations of negotiations from both the regions.
In the Asian session, at GMT0300, Gold is trading at 1307.9, 0.08% lower from yesterday’s close.
Gold is expected to find support at 1305.33, and a fall through could take it to the next support level of 1302.77. Gold is expected to find its first resistance at 1311.53, and a rise through could take it to the next resistance level of 1315.17.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
