Gold Movement
Gold prices traded lower by 0.91% against the USD in the 24 hour period ending 23:00GMT, at 1591.61 per ounce, amid a stronger greenback.
In the Asian session, at GMT0300, Gold is trading at 1593.2, 0.10% higher from yesterday’s close.
Gold is expected to find support at 1582.33, and a fall through could take it to the next support level of 1571.46. Gold is expected to find its first resistance at 1603.63, and a rise through could take it to the next resistance level of 1614.07.
The yellow metal is converging its 20 Hr moving average and trading above 50 Hr moving average.
