Gold Movement
Gold prices traded higher/lower by 0.44% against the USD in the 24 hour period ending 23:00GMT, at 1213.60 per ounce, after manufacturing activity in the US expanded less than expected in September, thus prompting investors to turn to the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1218.6, with the gold trading 0.41% higher from yesterday’s close.
The pair is expected to find support at 1209.0667, and a fall through could take it to the next support level of 1199.5333. The pair is expected to find its first resistance at 1224.0667, and a rise through could take it to the next resistance level of 1229.5333.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
