Gold Movement
Gold prices traded higher by 0.07% against the USD in the 24 hour period ending 23:00GMT, at 1,515.08 per ounce, as concerns over European debt problems renewed, thus encouraging investors to look for safe-haven assets for investment.
In the Asian session at 3:00GMT, gold is trading at USD 1,517.58 per ounce, 0.17% higher from 23:00GMT.
The pair is expected to find its first short term resistance at 1,522.83, with the next resistance at 1,528.08. The pair is expected to find support at 1,507.95 and subsequently at 1,498.32.
The pair is trading just above its 20 Hr and 50 Hr moving averages.
