Gold Movement
Gold prices traded lower by 0.96% against the USD in the 24 hour period ending 23:00GMT, at 1581.64 per ounce, as the greenback strengthened, while waning investor’s interest also weighed on demand for precious metal.
In the Asian session, at GMT0400, Gold is trading at 1578.20, 0.22% lower from yesterday’s close.
Gold is expected to find support at 1567.79, and a fall through could take it to the next support level of 1557.37. Gold is expected to find its first resistance at 1595.86, and a rise through could take it to the next resistance level of 1613.51.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
