Gold prices traded lower by 0.13% against the USD in the 24 hour period ending 23:00GMT, at 1,429.37 per ounce, on rumors that Libyan leader, Muammar Qadaffi, is attempting to negotiate for his safe exit from the country after he resigned from the office.
In the Asian session at 4:00GMT, gold is trading at USD 1,426.10 per ounce, 0.23% lower from 23:00GMT.
The pair is expected to find its first short term resistance at 1,433.14, with the next resistance at 1,440.17. The pair is expected to find support at 1,422.73 and subsequently at 1,419.35.
The pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
