Gold Movement
Gold prices traded higher by 0.48% against the USD in the 24 hour period ending 23:00GMT, at 1222.70 per ounce, following lukewarm economic releases from the US.
In the Asian session, at GMT0300, the pair is trading at 1224.5, with the gold trading 0.15% higher from yesterday’s close.
The pair is expected to find support at 1211.0667, and a fall through could take it to the next support level of 1197.6333. The pair is expected to find its first resistance at 1233.4667, and a rise through could take it to the next resistance level of 1242.4333.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
