Gold Movement
Gold prices traded higher by 0.04% against the USD in the 24 hour period ending 23:00GMT, at 1641.77 per ounce, as the greenback weakened on soft US economic data.
In the Asian session, at GMT0300, Gold is trading at 1644.06, 0.14% higher from yesterday’s close.
Gold is expected to find support at 1632.19, and a fall through could take it to the next support level of 1620.32. Gold is expected to find its first resistance at 1654.92, and a rise through could take it to the next resistance level of 1665.77.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
