Gold Movement
Gold prices traded higher by 1.44% against the USD in the 24 hour period ending 23:00GMT, at 1379.13 per ounce, as market participants digested reports of the Federal Reserve’s minutes to conclude that the stimulus program will remain in place for at least a few more months.
In the Asian session, at GMT0300, Gold is trading at 1377.16, 0.14% lower from yesterday’s close.
Gold is expected to find support at 1363.68, and a fall through could take it to the next support level of 1350.19. Gold is expected to find its first resistance at 1386.35, and a rise through could take it to the next resistance level of 1395.53.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
