Gold Movement
Gold prices traded lower by 0.13% against the USD in the 24 hour period ending 23:00GMT, at 1166.80 per ounce, extending its previous session losses.
Yesterday, gold holdings in the SPDR Gold Trust decreased to 756.32 tons, from its previous level of 760.80 tons.
In the Asian session, at GMT0400, the pair is trading at 1160.70, with the gold trading 0.52% lower from yesterday’s close.
The pair is expected to find support at 1154.80, and a fall through could take it to the next support level of 1148.90. The pair is expected to find its first resistance at 1170.50, and a rise through could take it to the next resistance level of 1180.30.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
