Gold Movement
Gold prices traded lower by 0.22% against the USD in the 24-hour period ending 23:00GMT, at 1222.70 per ounce, falling for the seventh straight session, after upbeat US economic data boosted expectations that the US Federal Reserve could raise interest rate as early as June.
In the Asian session, at GMT0300, the pair is trading at 1216.20, with the gold trading 0.53% lower from yesterday’s close.
The pair is expected to find support at 1208.17, and a fall through could take it to the next support level of 1200.13. The pair is expected to find its first resistance at 1229.87, and a rise through could take it to the next resistance level of 1243.53.
The yellow metal is trading below with its 20 Hr and 50 Hr moving averages.
