Gold Movement
Gold prices traded higher by 0.21% against the USD in the 24 hour period ending 23:00GMT, at 1156.50 per ounce, rebounding from its previous session losses, as the greenback weakened against some of its peers.
Separately, gold holdings in the SPDR Gold Trust, remained unchanged at 709.65 tons, from its previous close of 711.44 tons.
In the Asian session, at GMT0300, the pair is trading at 1156.80, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1147.20, and a fall through could take it to the next support level of 1137.60. The pair is expected to find its first resistance at 1165.10, and a rise through could take it to the next resistance level of 1173.40.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
