Gold Movement
Gold prices traded higher by 0.24% against the USD in the 24 hour period ending 23:00GMT, at 1622.47 per ounce, as the greenback weakened on speculation of monetary easing by Federal Reserve.
In the Asian session, at GMT0300, Gold is trading at 1620.66, 0.11% lower from yesterday’s close.
Gold is expected to find support at 1609.00, and a fall through could take it to the next support level of 1597.34. Gold is expected to find its first resistance at 1636.74, and a rise through could take it to the next resistance level of 1652.81.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
