Gold Movement
Gold prices traded lower by 0.63% against the USD in the 24 hour period ending 23:00GMT, at 1432.52 per ounce, pressured by concerns that the Federal Reserve might start to scale back its stimulus program.
In the Asian session, at GMT0300, Gold is trading at 1441.90, 0.65% higher from yesterday’s close.
Gold is expected to find support at 1430.63, and a fall through could take it to the next support level of 1419.36. Gold is expected to find its first resistance at 1449.37, and a rise through could take it to the next resistance level of 1456.84.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
