Gold Movement
Gold prices traded lower by 0.09% against the USD in the 24 hour period ending 23:00GMT, at 1131.30 per ounce, on the back of a stronger US economic data, which rekindled expectations of higher interest rates in the nation later this year.
Meanwhile, gold holdings of the SPDR Gold Trust, remained unchanged at 684.14 tons, from its previous close.
In the Asian session, at GMT0300, the pair is trading at 1124.40, with the gold trading 0.7% lower from yesterday’s close.
The pair is expected to find support at 1119.76, and a fall through could take it to the next support level of 1115.13. The pair is expected to find its first resistance at 1131.66, and a rise through could take it to the next resistance level of 1138.93.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
