Gold Movement
Gold prices traded marginally higher against the USD in the 24 hour period ending 23:00GMT, at 1728.19 per ounce, after World Gold Council stated that demand for gold would see positive growth in 2012.
In the Asian session, at GMT0400, Gold is trading at 1731.49, 0.19% higher from yesterday’s close.
Gold is expected to find support at 1713.35, and a fall through could take it to the next support level of 1695.21. Gold is expected to find its first resistance at 1741.74, and a rise through could take it to the next resistance level of 1751.98.
The yellow metal is trading above its 20 Hr and 50 Hr moving average.
