Gold Movement
Gold prices traded higher by 0.59% against the USD in the 24 hour period ending 23:00GMT, at 1552.38 per ounce, as continuing worries over Europe’s sovereign-debt crisis boosted the demand for the yellow metal.
In the Asian session at 3:00GMT, gold is trading at USD 1552.00 per ounce, steady from 23:00GMT.
The pair is expected to find its first short term resistance at 1,558.47, with the next resistance at 1,564.93. The pair is expected to find support at 1,544.12 and subsequently at 1,536.23.
The yellow metal is trading just above its 20 Hr average and well above its50 Hr moving average.
