Gold Movement
Gold prices traded lower by 2.27% against the USD in the 24 hour period ending 23:00GMT, at 1221.40 per ounce, as the US Dollar strengthened after the ISM manufacturing PMI unexpectedly rose in November.
In the Asian session, at GMT0400, Gold is trading at 1221.65, tad higher from yesterday’s close.
Gold is expected to find support at 1210.37, and a fall through could take it to the next support level of 1199.09. Gold is expected to find its first resistance at 1240.40, and a rise through could take it to the next resistance level of 1259.15.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
