Gold: Yellow metal trading lower this morning

Gold

Gold Movement

Gold prices traded lower by 0.28% against the USD in the 24 hour period ending 23:00GMT, at 1189.40 per ounce, as a broad strength in the greenback dampened gold’s allure.

In the Asian session, at GMT0300, the pair is trading at 1187.6, with the gold trading 0.15% lower from yesterday’s close.

The pair is expected to find support at 1179.50, and a fall through could take it to the next support level of 1171.40. The pair is expected to find its first resistance at 1200.20, and a rise through could take it to the next resistance level of 1212.80.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

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