Gold Movement
Gold prices traded higher by 0.70% against the USD in the 24 hour period ending 23:00GMT, at 1432.98 per ounce, supported by a weaker dollar and concerns over inflation. Gold was also boosted by the uncertainty over the outcome of political unrest in North Africa and the Middle East.
In the Asian session at 3:00GMT, gold is trading at USD 1430.34 per ounce, 0.18% lower from 23:00GMT.
The pair is expected to find its first short term resistance at 1,438.57, with the next resistance at 1,446.80. The pair is expected to find support at 1,423.00 and subsequently at 1,415.66.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
