Gold Movement
Gold prices traded higher marginally against the USD in the 24 hour period ending 23:00GMT, at 1116.90 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1116.8, with the gold trading slightly lower from yesterday’s close.
The pair is expected to find support at 1110.06, and a fall through could take it to the next support level of 1103.33. The pair is expected to find its first resistance at 1121.96, and a rise through could take it to the next resistance level of 1127.13.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
