Gold Movement
Gold prices traded lower by 1.41% against the USD in the 24 hour period ending 23:00GMT, at 1287.20 per ounce, as the greenback rebounded on signs that the US government was taking steps towards resolving its budget impasse.
In the Asian session, at GMT0300, Gold is trading at 1292.24, 0.39% higher from yesterday’s close.
Gold is expected to find support at 1278.17, and a fall through could take it to the next support level of 1264.11. Gold is expected to find its first resistance at 1309.23, and a rise through could take it to the next resistance level of 1326.23.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
