Gold Movement
Gold prices traded higher by 0.49% against the USD in the 24 hour period ending 23:00GMT, at 1435.38 per ounce, as concerns over inflation raised the investment demand for the precious metals.
A weak dollar and expectation of a rate hike by the European Central Bank also supported the gold.
In the Asian session at 3:00GMT, gold is trading at USD 1436.50 per ounce, 0.08% higher from 23:00GMT.
The pair is expected to find its first short term resistance at 1,440.50, with the next resistance at 1,444.49. The pair is expected to find support at 1,430.80 and subsequently at 1,425.09.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
