Gold Movement
Gold prices traded higher by 0.28% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,711.68 per ounce, after Euro-zone leaders decided to boost the rescue fund and agreed on closer fiscal ties.
In the Asian session, at GMT0400, Gold is trading at 1696.15, 0.91% lower from Friday’s close.
Gold is expected to find support at 1679.21, and a fall through could take it to the next support level of 1662.27. Gold is expected to find its first resistance at 1718.56, and a rise through could take it to the next resistance level of 1740.97.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
