GOLD Movement
Gold prices traded lower by 0.85% against the USD in the 24 hour period ending 23:00GMT, at 1649.09 per ounce, amid lackluster physical and investment demand for precious metal.
In the Asian session, at GMT0400, Gold is trading at 1652.39, 0.20% higher from yesterday’s close.
Gold is expected to find support at 1643.35, and a fall through could take it to the next support level of 1634.32. Gold is expected to find its first resistance at 1659.77, and a rise through could take it to the next resistance level of 1667.15.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
