Gold Movement
Gold prices traded lower by 0.51% against the USD in the 24 hour period ending 23:00GMT, at 1573.25 per ounce, as investors indulged in profit booking following Friday’s rally.
In the Asian session, at GMT0300, Gold is trading at 1575.11, 0.12% higher from yesterday’s close.
Gold is expected to find support at 1568.07, and a fall through could take it to the next support level of 1561.03. Gold is expected to find its first resistance at 1581.55, and a rise through could take it to the next resistance level of 1587.99.
The yellow metal is trading above its 20 Hr moving average and 50 Hr moving averages.
