Gold Movement
Gold prices traded higher by 0.67% against the USD in the 24 hour period ending 23:00GMT, at 1679.15 per ounce, boosted by the news that Germany’s central bank would repatriate some $200 billion (£125 billion) of gold reserves it stored in the US, France and other foreign locations.
In the Asian session, at GMT0400, Gold is trading at 1682.80, 0.22% higher from yesterday’s close.
Gold is expected to find support at 1673.49, and a fall through could take it to the next support level of 1664.19. Gold is expected to find its first resistance at 1688.68, and a rise through could take it to the next resistance level of 1694.56.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
