Gold Movement
On Friday Gold prices traded higher by 0.78% against the USD in the 24 hour period ending 23:00GMT, at 1673.60 per ounce, as the dollar weakened after European policymakers opted to lift a lending ceiling on bailout funds, and amid strong consumer sentiment data from the US.
In the Asian session, at GMT0300, Gold is trading at 1668.4, 0.05% lower from Friday’s close.
Gold is expected to find support at 1660.63, and a fall through could take it to the next support level of 1652.87. Gold is expected to find its first resistance at 1675.43, and a rise through could take it to the next resistance level of 1682.46.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
