Gold Movement
Gold prices traded lower by 0.30% against the USD in the 24 hour period ending 23:00GMT, at 1132.30 per ounce.
However, the losses in gold prices were capped, as weak US trade data raised hopes that the Federal Reserve might delay its decision of raising interest rates this year.
In the Asian session, at GMT0300, the pair is trading at 1148.3, with the gold trading 1.41% higher from yesterday’s close.
The pair is expected to find support at 1138.80, and a fall through could take it to the next support level of 1129.30. The pair is expected to find its first resistance at 1154.40, and a rise through could take it to the next resistance level of 1160.50.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
