Gold Movement
Gold prices traded higher by 0.54% against the USD in the 24 hour period ending 23:00GMT, at 1651.74 per ounce, as the dollar weakened.
In the Asian session, at GMT0400, Gold is trading at 1653.22, 0.09% higher from yesterday’s close.
Gold is expected to find support at 1642.05, and a fall through could take it to the next support level of 1630.89. Gold is expected to find its first resistance at 1666.11, and a rise through could take it to the next resistance level of 1679.00.
The yellow metal is trading just below its 20 Hr moving average and is showing convergence with 50 Hr moving average.
