Gold Movement
Gold prices traded higher by 0.99% against the USD in the 24 hour period ending 23:00GMT, at 1653.10 per ounce, as the greenback weakened after Federal Reserve minutes showed that policy makers are open to more stimulus if needed.
In the Asian session, at GMT0300, Gold is trading at 1661.55, 0.51% higher from yesterday’s close.
Gold is expected to find support at 1643.42, and a fall through could take it to the next support level of 1625.28. Gold is expected to find its first resistance at 1670.97, and a rise through could take it to the next resistance level of 1680.38.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
