Gold Movement
Gold prices traded lower by 0.26% against the USD in the 24 hour period ending 24:00GMT, at 1657.24 per ounce, as the safe-haven appeal of the metal was reduced following the release of bigger-than-expected decline in US jobless claims.
In the Asian session, at GMT0400, Gold is trading at 1656.47, 0.05% lower from yesterday’s close.
Gold is expected to find support at 1647.11, and a fall through could take it to the next support level of 1637.75. Gold is expected to find its first resistance at 1668.05, and a rise through could take it to the next resistance level of 1679.63.
The yellow metal is trading just below its 20 Hr and its 50 Hr moving averages.
