Gold Movement
Gold prices traded lower by 0.46% against the USD in the 24 hour period ending 23:00GMT, at 1680.81 per ounce, amid profit booking.
Meanwhile, demand for the yellow metal in major consumer India remained passive as a strike continued among jewelers in protest at a government import levy.
In the Asian session, at GMT0300, Gold is trading at 1680.34, 0.03% lower from yesterday’s close.
Gold is expected to find support at 1673.28, and a fall through could take it to the next support level of 1666.21. Gold is expected to find its first resistance at 1692.28, and a rise through could take it to the next resistance level of 1704.22.
The yellow metal trading below its 20 Hr and its 50 Hr moving averages.
