Gold Movement
Gold prices traded lower by 0.69% against the USD in the 24 hour period ending 23:00GMT, at 1187.70 per ounce, amid a broad strength in the greenback.
Meanwhile, investors anxiously await the outcome of the upcoming Swiss referendum on the SNB’s gold reserves, scheduled on November 30.
In the Asian session, at GMT0400, the pair is trading at 1181.90, with the gold trading 0.49% lower from yesterday’s close.
The pair is expected to find support at 1175.80, and a fall through could take it to the next support level of 1169.70. The pair is expected to find its first resistance at 1193.20, and a rise through could take it to the next resistance level of 1204.50.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
