Gold Movement
Gold prices traded lower by 1.13% against the USD in the 24 hour period ending 23:00GMT, at 1661.87 per ounce, amid sluggish physical demand.
In the Asian session, at GMT0300, Gold is trading at 1661.51, 0.02% lower from yesterday’s close.
Gold is expected to find support at 1649.25, and a fall through could take it to the next support level of 1636.99. Gold is expected to find its first resistance at 1679.16, and a rise through could take it to the next resistance level of 1696.81.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
