Gold Movement
Gold prices traded higher 0.37% against the USD in the 24 hour period ending 23:00GMT, at 1167.70 per ounce.
Gold prices were buoyed as poor Chinese trade data weighed on the global stock market and as expectations rose that the US Fed will not raise interest rates this year.
In the Asian session, at GMT0300, the pair is trading at 1173.1, with the gold trading 0.46% higher from yesterday’s close.
The pair is expected to find support at 1158.10, and a fall through could take it to the next support level of 1143.10. The pair is expected to find its first resistance at 1181.30, and a rise through could take it to the next resistance level of 1189.50.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
