Gold Movement
Gold prices traded higher by 0.37% against the USD in the 24 hour period ending 23:00GMT, at 1101.60 per ounce, rebounding from its earlier session losses, as the greenback weakened against its major peers.
Meanwhile, gold holdings of the SPDR Gold Trust edged down to 694.46 tons, from its previous level of 707.88 tons.
In the Asian session, at GMT0300, the pair is trading at 1092.20, with the gold trading 0.85% lower from yesterday’s close.
The pair is expected to find support at 1086.13, and a fall through could take it to the next support level of 1080.06. The pair is expected to find its first resistance at 1103.53, and a rise through could take it to the next resistance level of 1114.86.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
