Gold Movement
Gold prices traded higher by 0.53% against the USD in the 24 hour period ending 23:00GMT, at 1577.99 per ounce.
In the Asian session, at GMT0300, Gold is trading at 1572.43, 0.35% lower from yesterday’s close, after Federal Reserve Minutes gave no hint of monetary easing to boost economy.
Gold is expected to find support at 1565.33, and a fall through could take it to the next support level of 1558.24. Gold is expected to find its first resistance at 1581.26, and a rise through could take it to the next resistance level of 1590.10.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
