Gold Movement
Gold prices traded lower by 0.76% against the USD in the 24 hour period ending 23:00GMT, at 1198.60 per ounce, reversing its previous session gains.
Separately, gold holdings of the SPDR Gold Trust narrowed to 734.29 tons, from its previous level of 736.04 tons
In the Asian session, at GMT0300, the pair is trading at 1200.10, with the gold trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 1195.00, and a fall through could take it to the next support level of 1189.90. The pair is expected to find its first resistance at 1206.30, and a rise through could take it to the next resistance level of 1212.50.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
