Gold Movement
Gold prices traded lower by 1.61% against the USD in the 24 hour period ending 23:00GMT, at 1304.84 per ounce, as US dollar strengthened following better-than-expected US jobless claims and manufacturing PMI data.
In the Asian session, at GMT0300, Gold is trading at 1307.62, 0.21% higher from yesterday’s close.
Gold is expected to find support at 1297.53, and a fall through could take it to the next support level of 1287.43. Gold is expected to find its first resistance at 1323.13, and a rise through could take it to the next resistance level of 1338.63.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
