Gold Movement
Gold prices traded higher by 1.54% against the USD in the 24 hour period ending 23:00GMT, at 1472.20 per ounce, as the greenback weakened and on increased physical demand from China and India.
In the Asian session, at GMT0300, Gold is trading at 1473.05, marginally higher from yesterday’s close.
Gold is expected to find support at 1456.63, and a fall through could take it to the next support level of 1440.20. Gold is expected to find its first resistance at 1483.06, and a rise through could take it to the next resistance level of 1493.06.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
