Gold Movement
Gold prices traded lower by 0.78% against the USD in the 24 hour period ending 23:00GMT, at 1760.68 per ounce, after commodity prices plunged overnight and investors booked profit from a recent rally sparked by the Federal Reserve’s aggressive round of stimulus efforts.
In the Asian session, at GMT0300, Gold is trading at 1757.25, 0.19% lower from yesterday’s close.
Gold is expected to find support at 1748.60, and a fall through could take it to the next support level of 1739.96. Gold is expected to find its first resistance at 1771.04, and a rise through could take it to the next resistance level of 1784.84.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
