Gold Movement
Gold prices traded higher by 1.06% against the USD in the 24 hour period ending 23:00GMT, at 1673.95 per ounce, as the dollar weakened against most of its trading counterparts.
In the Asian session, at GMT0400, Gold is trading at 1673.55, marginally lower from yesterday’s close.
Gold is expected to find support at 1660.07, and a fall through could take it to the next support level of 1646.59. Gold is expected to find its first resistance at 1683.00, and a rise through could take it to the next resistance level of 1692.44.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
