Gold Movement
Gold prices traded higher by 0.92% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,681.18 per ounce, as optimism over eurozone’s plan to resolve the region’s debt crisis and a decline in the greenback lifted the yellow metal prices.
In the Asian session, at GMT0300, Gold is trading at 1681.80, marginally higher from Friday’s close.
Gold is expected to find support at 1669.04, and a fall through could take it to the next support level of 1656.29. Gold is expected to find its first resistance at 1689.49, and a rise through could take it to the next resistance level of 1697.19.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
