Gold Movement
Gold prices traded 0.07% lower against the USD in the 24-hour period ending 23:00GMT, at USD 1211.70 per ounce, amid strength in the greenback and gains in global equity markets.
In the Asian session, at GMT0400, the pair is trading at 1218.4, with the gold trading 0.55% higher against the USD from yesterday’s close.
The pair is expected to find support at 1205.80, and a fall through could take it to the next support level of 1193.20. The pair is expected to find its first resistance at 1224.90, and a rise through could take it to the next resistance level of 1231.40.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
