Gold Movement
Gold prices traded higher by 1.06% against the USD in the 24 hour period ending 23:00GMT, at 1676.05 per ounce, as greenback weakened, amid renewed possibility of economic stimulus in the US economy, following comments from Federal officials.
In the Asian session, at GMT0300, Gold is trading at 1673.29, 0.16% lower from yesterday’s close.
Gold is expected to find support at 1655.90, and a fall through could take it to the next support level of 1638.51. Gold is expected to find its first resistance at 1685.42, and a rise through could take it to the next resistance level of 1697.56.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
