Gold Movement
Gold prices traded lower 0.07% against the USD in the 24 hour period ending 23:00GMT, at 1232.10 per ounce, reversing its earlier session gains.
Yesterday, gold holdings in the SPDR Gold Trust remained unchanged for the second-consecutive day at 707.82 tons.
In the Asian session, at GMT0400, the pair is trading at 1228.00, with the gold trading 0.33% lower from yesterday’s close.
The pair is expected to find support at 1220.43, and a fall through could take it to the next support level of 1212.86. The pair is expected to find its first resistance at 1240.03, and a rise through could take it to the next resistance level of 1252.06.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
