Gold Movement
Gold prices traded higher by 1.17% against the USD in the 24 hour period ending 23:00GMT, at 1,759.45 per ounce, as uncertainty over European debt crisis and strong US jobs data provided a boost to precious metals.
In the Asian session, at GMT0400, Gold is trading at 1759.75, flat from yesterday’s close.
Gold is expected to find support at 1732.34, and a fall through could take it to the next support level of 1704.94. Gold is expected to find its first resistance at 1777.59, and a rise through could take it to the next resistance level of 1795.44.
The yellow metal is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
