Gold Movement
Gold prices traded lower by 3.06% against the USD in the 24 hour period ending 23:00GMT, at 1,579.02 per ounce, as the dollar strengthened following concerns over Europe’s debt crisis.
In the Asian session, at GMT0400, Gold is trading at 1573.05, 0.38% lower from yesterday’s close.
Gold is expected to find support at 1543.35, and a fall through could take it to the next support level of 1513.64. Gold is expected to find its first resistance at 1622.79, and a rise through could take it to the next resistance level of 1672.52.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
