Gold Movement
Gold prices traded higher by 0.61% against the USD in the 24 hour period ending 23:00GMT, at 1563.55 per ounce, amid bargain hunting.
In the Asian session, at GMT0300, Gold is trading at 1562.53, 0.07% lower from yesterday’s close.
Gold is expected to find support at 1539.49, and a fall through could take it to the next support level of 1516.46. Gold is expected to find its first resistance at 1577.62, and a rise through could take it to the next resistance level of 1592.72.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
