Gold Movement
Gold prices traded higher by 0.26% against the USD in the 24 hour period ending 23:00GMT, at 1663.20 per ounce, as the greenback fell, after Federal Reserve Bank of New York President, William Dudley commented that the US central bank cannot rule out further monetary easing.
In the Asian session, at GMT0400, Gold is trading at 1657.87, 0.32% lower from yesterday’s close.
Gold is expected to find support at 1650.17, and a fall through could take it to the next support level of 1642.46. Gold is expected to find its first resistance at 1667.81, and a rise through could take it to the next resistance level of 1677.75.
The yellow metal is trading just below its 20 Hr and 50 Hr moving averages.
