Gold Movement
Gold prices traded lower by 0.48% against the USD in the 24 hour period ending 23:00GMT, at 1216.90 per ounce, amid a stronger greenback after the new home sales in the US rose to its highest level in more than 6 years.
In the Asian session, at GMT0300, the pair is trading at 1214.1, with the gold trading 0.23% lower from yesterday’s close.
The pair is expected to find support at 1209.23, and a fall through could take it to the next support level of 1204.37. The pair is expected to find its first resistance at 1222.83, and a rise through could take it to the next resistance level of 1231.57.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
