Gold Movement
Gold prices traded lower by 0.63% against the USD in the 24 hour period ending 23:00GMT, at 1208.30 per ounce, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1206.8, with the gold trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1200.5, and a fall through could take it to the next support level of 1194.2. The pair is expected to find its first resistance at 1216.9, and a rise through could take it to the next resistance level of 1227.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
