Gold Movement
Gold prices traded lower by 0.42% against the USD in the 24 hour period ending 23:00GMT, at 1650.12 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1648.36, 0.11% lower from yesterday’s close.
Gold is expected to find support at 1640.22, and a fall through could take it to the next support level of 1632.08. Gold is expected to find its first resistance at 1659.28, and a rise through could take it to the next resistance level of 1670.20.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
