Gold Movement
Gold prices traded lower by 0.48% against the USD in the 24 hour period ending 23:00GMT, at 1684.85 per ounce, as increasing confidence in the global economic recovery diminished yellow metal’s appeal as a safe-haven investment.
In the Asian session, at GMT0400, Gold is trading at 1682.35, 0.15% lower from yesterday’s close.
Gold is expected to find support at 1677.54, and a fall through could take it to the next support level of 1672.73. Gold is expected to find its first resistance at 1691.27, and a rise through could take it to the next resistance level of 1700.19.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
