Gold: Yellow metal trading a tad lower in the morning session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.54% against the USD and closed at USD1314.70 per ounce, amid strength in the US dollar.

In the Asian session, at GMT0400, the pair is trading at 1314.40, with gold trading a tad lower against the USD from yesterday’s close.

The pair is expected to find support at 1308.90, and a fall through could take it to the next support level of 1303.40. The pair is expected to find its first resistance at 1324.40, and a rise through could take it to the next resistance level of 1334.40.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

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