Gold Movement
Gold prices traded higher by 0.52% against the USD in the 24 hour period ending 23:00GMT, at 1720.29 per ounce, as the greenback weakened. Speculation of rising physical demand in Asia pushed up precious metal prices as well.
In the Asian session, at GMT0400, Gold is trading at 1721.58, marginally higher from yesterday’s close.
Gold is expected to find support at 1713.01, and a fall through could take it to the next support level of 1704.44. Gold is expected to find its first resistance at 1728.13, and a rise through could take it to the next resistance level of 1734.68.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
