Gold Movement
Gold prices traded higher by 0.73% against the USD in the 24 hour period ending 23:00GMT, at 1412.25 per ounce, as the greenback weakened after reports showed that US initial jobless claims fell less than expected in the last week.
In the Asian session, at GMT0300, Gold is trading at 1413.35, marginally higher from yesterday’s close.
Gold is expected to find support at 1395.53, and a fall through could take it to the next support level of 1377.72. Gold is expected to find its first resistance at 1427.53, and a rise through could take it to the next resistance level of 1441.72.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
