Gold Movement
Gold prices traded lower by 0.36% against the USD in the 24 hour period ending 23:00GMT, at 1742.15 per ounce, amid concerns over Europe’s debt problems and as the greenback strengthened.
In the Asian session, at GMT0300, Gold is trading at 1737.54, 0.26% lower from yesterday’s close.
Gold is expected to find support at 1731.74, and a fall through could take it to the next support level of 1725.95. Gold is expected to find its first resistance at 1747.44, and a rise through could take it to the next resistance level of 1757.34.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
