Gold Movement
Gold prices traded a tad higher against the USD in the 24 hour period ending 23:00GMT, at 1188.20 per ounce.
Yesterday, gold holdings of the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, expanded to 715.86 tons, from its previous close of 715.26 tons.
In the Asian session, at GMT0300, the pair is trading at 1188.10, with the gold trading slightly lower from yesterday’s close.
The pair is expected to find support at 1184.23, and a fall through could take it to the next support level of 1180.36. The pair is expected to find its first resistance at 1191.63, and a rise through could take it to the next resistance level of 1195.16.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
