Gold Movement
Gold prices traded 0.21% lower against the USD in the 24 hour period ending 23:00GMT, at 1560.33 per ounce, as the greenback strengthened, amid persistent fears over the Euro-zone debt crises.
In the Asian session, at GMT0300, Gold is trading at 1555.94, 0.28% lower from yesterday’s close.
Gold is expected to find support at 1547.05, and a fall through could take it to the next support level of 1538.16. Gold is expected to find its first resistance at 1569.17, and a rise through could take it to the next resistance level of 1582.41.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
