Gold Movement
Gold prices traded higher by 1.22% against the USD in the 24 hour period ending 23:00GMT, at 1,513.55 per ounce, stoked by concerns over the outlook for the Chinese economy and amid renewed worries over the euro zone debt crisis.
In the Asian session at 3:00GMT, gold is trading at USD 1,513.75 per ounce, flat from 23:00GMT.
The pair is expected to find its first short term resistance at 1,523.08, with the next resistance at 1,532.41. The pair is expected to find support at 1,498.56 and subsequently at 1,483.37.
The pair is trading just above its 20 Hr and its 50 Hr moving averages.
