Gold Movement
Gold prices traded lower by 0.09% against the USD in the 24 hour period ending 23:00GMT, at 1214.70 per ounce.
Yesterday, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, remained unchanged at 737.24 tons.
In the Asian session, at GMT0300, the pair is trading at 1213.60, with the gold trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 1208.23, and a fall through could take it to the next support level of 1202.86. The pair is expected to find its first resistance at 1221.73, and a rise through could take it to the next resistance level of 1229.86.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
