Gold Movement
Gold prices traded higher by 0.16% against the USD in the 24 hour period ending 23:00GMT, at 1158.30 per ounce, after initial jobless claims in the US unexpectedly increased in the previous week.
Gains in gold prices were kept in check, as the global equity markets rallied with investors preferring riskier assets.
Separately, gold holdings in the SPDR Gold Trust slightly fell to 709.37 tons, from its previous close of 709.65 tons.
In the Asian session, at GMT0300, the pair is trading at 1160.70, with the gold trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 1155.76, and a fall through could take it to the next support level of 1150.83. The pair is expected to find its first resistance at 1166.26, and a rise through could take it to the next resistance level of 1171.83.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
