Gold Movement
Gold prices traded higher by 0.83% against the USD in the 24 hour period ending 23:00GMT, at 1,762.05 per ounce, as a poor weekly US jobless claims report increased the appeal of the yellow metal.
In the Asian session at 3:00GMT, gold is trading at USD1,771.16 per ounce, 0.52% higher from 23:00GMT.
The pair is expected to find its first short term resistance at 1,796.33, with the next resistance at 1,821.51. The pair is expected to find support at 1,724.35 and subsequently at 1,677.55.
The yellow metal is trading above its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
