Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.84% against the USD and closed at USD1190.30 per ounce, amid broad gains in the greenback, after largely upbeat economic data boosted the case for an interest rate hike in December.
In the Asian session, at GMT0400, the pair is trading at 1188.40, with the gold trading 0.16% lower from yesterday’s close.
The pair is expected to find support at 1175.83, and a fall through could take it to the next support level of 1163.27. The pair is expected to find its first resistance at 1209.13, and a rise through could take it to the next resistance level of 1229.87.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
