Gold Movement
Gold prices traded higher by 1.88% against the USD in the 24 hour period ending 23:00GMT, at 1364.34 per ounce, as the greenback weakened.
Traders shrugged off the reports that tighter import rules in India, pushing up prices on the prospect of rising demand from investors and physical buyers.
In the Asian session, at GMT0300, Gold is trading at 1365.95, 0.12% higher from yesterday’s close.
Gold is expected to find support at 1332.34, and a fall through could take it to the next support level of 1298.74. Gold is expected to find its first resistance at 1386.26, and a rise through could take it to the next resistance level of 1406.58.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
