Gold Movement
Gold prices traded lower by 0.23% against the USD in the 24 hour period ending 23:00GMT, at 1638.25 per ounce, as European debt crisis worries and political turmoil in France and Netherlands, prompted investors to reduce their positions in precious metal. In the Asian session, at GMT0300, Gold is trading at 1636.93, 0.08% lower from yesterday’s close.
Gold is expected to find support at 1625.79, and a fall through could take it to the next support level of 1614.64. Gold is expected to find its first resistance at 1645.69, and a rise through could take it to the next resistance level of 1654.45.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
