Gold Movement
Gold prices traded lower by 1.10% against the USD in the 24 hour period ending 23:00GMT, at 1,761.38 per ounce, as the dollar gained strength amid renewed worries over the Euro-zone debt crisis.
In the Asian session, at GMT0400, Gold is trading at 1760.95, flat from yesterday’s close.
Gold is expected to find support at 1749.94, and a fall through could take it to the next support level of 1738.93. Gold is expected to find its first resistance at 1775.67, and a rise through could take it to the next resistance level of 1790.39.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
