Gold Movement
Gold prices traded lower by 0.73% against the USD in the 24 hour period ending 23:00GMT, at 1696.83 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1696.35, marginally lower from yesterday’s close.
Gold is expected to find support at 1689.77, and a fall through could take it to the next support level of 1683.18. Gold is expected to find its first resistance at 1702.75, and a rise through could take it to the next resistance level of 1709.16.
The yellow metal is showing convergence with its 20 Hr and trading below its 50 Hr moving average.
