Gold
Gold prices traded higher by 0.30% against the USD in the 24 hour period ending 23:00GMT, at 1745.02 per ounce as positive manufacturing data around the globe fuel optimism that the global recovery is weathering the Euro debt crisis, boosting the demand for yellow metal.
In the Asian session, at GMT0400, Gold is trading at 1747.78, 0.16% higher from yesterday’s close.
Gold is expected to find support at 1736.20, and a fall through could take it to the next support level of 1724.62. Gold is expected to find its first resistance at 1755.89, and a rise through could take it to the next resistance level of 1764.00.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
