Gold Movement
Gold prices traded higher by 0.12% against the USD in the 24 hour period ending 23:00GMT, at 1386.00 per ounce, as investors indulged in bottom fishing.
In the Asian session, at GMT0300, Gold is trading at 1385.15, marginally lower from yesterday’s close.
Gold is expected to find support at 1377.66, and a fall through could take it to the next support level of 1370.17. Gold is expected to find its first resistance at 1390.93, and a rise through could take it to the next resistance level of 1396.71.
The yellow metal is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
