Gold Movement
Gold prices traded higher by 0.39% against the USD in the 24 hour period ending 23:00GMT, at 1733.75 per ounce, as the greenback weakened amid expectation of monetary easing by Federal Reserve later this week.
In the Asian session, at GMT0300, Gold is trading at 1736.07, 0.13% higher from yesterday’s close.
Gold is expected to find support at 1729.68, and a fall through could take it to the next support level of 1723.30. Gold is expected to find its first resistance at 1740.29, and a rise through could take it to the next resistance level of 1744.52.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
