Gold Movement
Gold prices traded higher by 0.34% against the USD in the 24 hour period ending 23:00GMT, at 1195.80 per ounce, after most global equity markets declined.
Gold prices were also supported, on the back of weak US durable goods orders data, thus increasing the demand for the safe haven precious metal.
Meanwhile, gold holdings in the SPDR Gold Trust edged down to 744.40 tons.
In the Asian session, at GMT0400, the pair is trading at 1198.80, with the gold trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 1190.23, and a fall through could take it to the next support level of 1181.66. The pair is expected to find its first resistance at 1204.03, and a rise through could take it to the next resistance level of 1209.26.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
