Gold Movement
Gold prices traded higher by 0.31% against the USD in the 24 hour period ending 23:00GMT, at 1581.43 per ounce, as weak economic data from the US raised hopes for more monetary stimulus.
In the Asian session, at GMT0300, Gold is trading at 1583.45, 0.13% higher from yesterday’s close.
Gold is expected to find support at 1573.60, and a fall through could take it to the next support level of 1563.75. Gold is expected to find its first resistance at 1589.05, and a rise through could take it to the next resistance level of 1594.65.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
