Gold Movement
Gold prices traded lower by 0.68% against the USD in the 24 hour period ending 23:00GMT, at 1133.10 per ounce, extending its previous session losses, amid a broad rally in global equity markets.
In the Asian session, at GMT0400, the pair is trading at 1135.4, with the gold trading 0.2% higher from yesterday’s close.
The pair is expected to find support at 1130.83, and a fall through could take it to the next support level of 1126.27. The pair is expected to find its first resistance at 1141.33, and a rise through could take it to the next resistance level of 1147.27.
The yellow metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
