Gold Movement
Gold prices traded higher by 0.87% against the USD in the 24 hour period ending 23:00GMT, at 1,742.95 per ounce, on renewed investors demand as well as good off take in Asian countries, especially, China and India.
In the Asian session, at GMT0400, Gold is trading at 1738.73, 0.24% lower from yesterday’s close.
Gold is expected to find support at 1725.07, and a fall through could take it to the next support level of 1711.41. Gold is expected to find its first resistance at 1747.82, and a rise through could take it to the next resistance level of 1756.91.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
