Gold Movement
Gold prices traded higher by 0.48% against the USD in the 24 hour period ending 23:00GMT, at 1,501.22 per ounce, on weakened dollar and concerns about debt and faster inflation, which encouraged investors for alternative investments.
In the Asian session at 3:00GMT, gold is trading at USD 1505.32 per ounce, 0.27% higher from 23:00GMT.
The pair is expected to find its first short term resistance at 1,511.06, with the next resistance at 1,516.79. The pair is expected to find support at 1,496.81 and subsequently at 1,488.29.
The pair is trading just above its 20 Hr and 50 Hr moving averages.
