Gold Movement
Gold prices traded higher by 0.15% against the USD in the 24 hour period ending 23:00GMT, at 1,431.50 per ounce, as violence in North Africa and the Middle East stokes demand for the yellow metal, and as worries over euro zone debt return to the spotlight ahead of a summit this week..
In the Asian session at 4:00GMT, gold is trading at USD 1,428.18 per ounce, 0.23% lower from 23:00GMT.
The pair is expected to find its first short term resistance at 1,434.86, with the next resistance at 1,441.55. The pair is expected to find support at 1,422.93 and subsequently at 1,417.69.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
