Gold Movement
Gold prices traded flat against the USD in the 24 hour period ending 23:00GMT, at 1202.40 per ounce.
Meanwhile, bullion investors look forward to the Fed Chairperson, Janet Yellen’s testimony for signs of when the US central bank would raise its interest rate.
In the Asian session, at GMT0400, the pair is trading at 1201.90, with the gold trading a tad lower from yesterday’s close.
The pair is expected to find support at 1191.56, and a fall through could take it to the next support level of 1181.23. The pair is expected to find its first resistance at 1211.26, and a rise through could take it to the next resistance level of 1220.63.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
