Gold Movement
Gold prices traded higher by 0.50% against the USD in the 24-hour period ending 23:00GMT, at 1218.10 per ounce, following the release of downbeat US economic data.
In the Asian session, at GMT0300, the pair is trading at 1218.5, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1211.93, and a fall through could take it to the next support level of 1205.37. The pair is expected to find its first resistance at 1223.73, and a rise through could take it to the next resistance level of 1228.97.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
