Gold Movement
Gold prices traded higher by 0.16% against the USD in the 24 hour period ending 23:00GMT, at 1778.94per ounce, as the greenback weakened amid upbeat German business sentiment data.
In the Asian session, at GMT0400, Gold is trading at 1779.47, marginally higher from yesterday’s close.
Gold is expected to find support at 1772.07, and a fall through could take it to the next support level of 1764.68. Gold is expected to find its first resistance at 1787.18, and a rise through could take it to the next resistance level of 1794.90.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
