Gold Movement
Gold prices traded lower by 1.02% against the USD in the 24 hour period ending 23:00GMT, at 1262.10 per ounce, extending its previous session losses, following a strong upward trend in the global equity markets.
In the Asian session, at GMT0400, the pair is trading at 1263.00, with the gold trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 1250.36, and a fall through could take it to the next support level of 1237.73. The pair is expected to find its first resistance at 1281.06, and a rise through could take it to the next resistance level of 1299.13.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
