Gold Movement
Gold prices traded higher by 1.23% against the USD in the 24 hour period ending 23:00GMT, at 1719.10 per ounce, as a sharp drop in price in the previous session, prompted investors to buy precious metals at lower prices.
In the Asian session, at GMT0400, Gold is trading at 1720.19, 0.06% higher from yesterday’s close.
Gold is expected to find support at 1706.27, and a fall through could take it to the next support level of 1692.34. Gold is expected to find its first resistance at 1730.04, and a rise through could take it to the next resistance level of 1739.88.
The yellow metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
