Gold Movement
Gold prices traded lower by 1.04% against the USD in the 24 hour period ending 23:00GMT, at 1596.99 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1598.27, marginally higher from yesterday’s close.
Gold is expected to find support at 1589.52, and a fall through could take it to the next support level of 1580.78. Gold is expected to find its first resistance at 1609.94, and a rise through could take it to the next resistance level of 1621.62.
The yellow metal is trading just below its 20 Hr and 50 Hr moving averages.
