Gold Movement
Gold prices traded lower by 0.13% against the USD in the 24 hour period ending 23:00GMT, at 1166.00 per ounce, as the greenback strengthened on upbeat ISM manufacturing data registered by the US.
In the Asian session, at GMT0400, the pair is trading at 1167.3, with the gold trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1162.66, and a fall through could take it to the next support level of 1158.03. The pair is expected to find its first resistance at 1172.66, and a rise through could take it to the next resistance level of 1178.03.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
