Gold Movement
Gold prices traded lower by 0.25% against the USD in the 24 hour period ending 23:00GMT, at 1069.80 per ounce, amid a broad rally in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1072.80, with the gold trading 0.28% higher from yesterday’s close.
The pair is expected to find support at 1068.63, and a fall through could take it to the next support level of 1064.46. The pair is expected to find its first resistance at 1075.93, and a rise through could take it to the next resistance level of 1079.06.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
