Gold Movement
Gold prices traded marginally lower by against the USD in the 24 hour period ending 23:00GMT, at 1720.70per ounce, as the greenback strengthened after Moody’s Investors Service downgraded the ratings for six European nations.
In the Asian session, at GMT0400, Gold is trading at 1717.49, 0.19% lower from yesterday’s close.
Gold is expected to find support at 1710.47, and a fall through could take it to the next support level of 1703.46. Gold is expected to find its first resistance at 1728.98, and a rise through could take it to the next resistance level of 1740.47.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
