Gold Movement
Gold prices traded higher by 0.22% against the USD in the 24 hour period ending 23:00GMT, at 1695.40 per ounce, on growing speculation that the US Federal Reserve might launch bond buying programme later this month.
In the Asian session, at GMT0300, Gold is trading at 1692.98, 0.14% lower from yesterday’s close.
Gold is expected to find support at 1687.80, and a fall through could take it to the next support level of 1682.63. Gold is expected to find its first resistance at 1698.60, and a rise through could take it to the next resistance level of 1704.23.
The yellow metal is trading between its 20 Hr and 50 Hr moving average.
