Gold Movement
Gold prices traded lower by 2.39% against the USD in the 24 hour period ending 23:00GMT, at 1,678.40 per ounce, as a greenback rallied, amid European and US debt concerns.
In the Asian session, at GMT0400, Gold is trading at 1677.55, marginally lower from yesterday’s close.
Gold is expected to find support at 1654.22, and a fall through could take it to the next support level of 1630.89. Gold is expected to find its first resistance at 1713.69, and a rise through could take it to the next resistance level of 1749.83.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
