Gold Movement
Gold prices traded higher by 0.31% against the USD in the 24 hour period ending 23:00GMT, at 1314.10 per ounce, as the dollar denominated commodity gained ground after the greenback fell on downbeat US retail sales data.
In the Asian session, at GMT0300, Gold is trading at 1312.8, 0.1% lower from yesterday’s close.
Gold is expected to find support at 1307.07, and a fall through could take it to the next support level of 1301.33. Gold is expected to find its first resistance at 1317.47, and a rise through could take it to the next resistance level of 1322.13.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
