Gold Movement
Gold prices traded lower by 0.82% against the USD in the 24 hour period ending 23:00GMT, at 1087.60 per ounce, amid a broad strength in the greenback, after the US annualized GDP growth picked up speed in 2Q 2015.
Meanwhile, gold holdings in the SPDR Gold Trust remained unchanged at 680.15 tons.
In the Asian session, at GMT0300, the pair is trading at 1084.40, with the gold trading 0.29% lower from yesterday’s close.
The pair is expected to find support at 1078.96, and a fall through could take it to the next support level of 1073.53. The pair is expected to find its first resistance at 1092.36, and a rise through could take it to the next resistance level of 1100.33.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
