Gold Movement
Gold prices traded lower by 0.69% against the USD in the 24 hour period ending 23:00GMT, at 1153.90 per ounce, on the back of broad strength in the greenback.
Yesterday, gold holdings in the SPDR Gold Trust narrowed to 753.04 tons from its previous level of 756.32 tons.
In the Asian session, at GMT0400, the pair is trading at 1151.10, with the gold trading 0.24% lower from yesterday’s close.
The pair is expected to find support at 1143.80, and a fall through could take it to the next support level of 1136.50. The pair is expected to find its first resistance at 1161.10, and a rise through could take it to the next resistance level of 1171.10.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
