Gold Movement
Gold prices traded lower by 0.16% against the USD in the 24 hour period ending 23:00GMT, at 1215.90 per ounce, extending its previous session losses and amid continued civil unrest in China.
In the Asian session, at GMT0300, the pair is trading at 1218.4, with the gold trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 1214.5, and a fall through could take it to the next support level of 1210.6. The pair is expected to find its first resistance at 1223.1, and a rise through could take it to the next resistance level of 1227.8.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
