Gold Movement
Gold prices traded lower by 1.56% against the USD in the 24 hour period ending 23:00GMT, at 1106.70 per ounce, as the greenback strengthened against its peers.
Meanwhile, gold holdings in the SPDR Gold Trust, widened to 675.80 tons from its previous level of 674.61 tons.
In the Asian session, at GMT0300, the pair is trading at 1134.80 with the gold trading 2.54% higher from yesterday’s close.
The pair is expected to find support at 1126.10, and a fall through could take it to the next support level of 1117.40. The pair is expected to find its first resistance at 1139.50, and a rise through could take it to the next resistance level of 1144.20.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
