Gold Movement
Gold prices traded lower by 0.93% against the USD in the 24 hour period ending 23:00GMT, at 1591.20 per ounce, as the greenback strengthened.
In the Asian session, at GMT0300, Gold is trading at 1591.44, marginally higher from yesterday’s close.
Gold is expected to find support at 1581.60, and a fall through could take it to the next support level of 1571.76. Gold is expected to find its first resistance at 1599.53, and a rise through could take it to the next resistance level of 1607.63.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
