Gold Movement
Gold prices traded higher by 0.98% against the USD in the 24 hour period ending 23:00GMT, at 1657.98 per ounce, as rising concerns about Euro-zone debt crisis and losses in global equity markets, supported safe-haven buying of precious metal.
In the Asian session, at GMT0300, Gold is trading at 1655.11, 0.17% lower from yesterday’s close.
Gold is expected to find support at 1637.05, and a fall through could take it to the next support level of 1618.99. Gold is expected to find its first resistance at 1668.14, and a rise through could take it to the next resistance level of 1681.17.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
