Gold Movement
Gold prices traded 0.52% lower against the USD in the 24-hour period ending 23:00GMT, at USD1342.00 per ounce, extending its previous session losses.
Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, declined 0.13% to 950.62 tonnes yesterday.
In the Asian session, at GMT0300, the pair is trading at 1343.3, with the gold trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 1336.97, and a fall through could take it to the next support level of 1330.63. The pair is expected to find its first resistance at 1351.77, and a rise through could take it to the next resistance level of 1360.23.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
