Gold Movement
Gold prices traded slightly higher against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,620.68 per ounce, as recent correction in precious metal prices attracted investors for fresh buying.
In the Asian session at 3:00GMT, gold is trading at USD 1,633.07 per ounce, 0.76% higher from Friday’s close.
The pair is expected to find its first short term resistance at 1,645.30, with the next resistance at 1,657.53. The pair is expected to find support at 1,614.07 and subsequently at 1,595.07.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
