Gold Movement
Gold prices traded higher by 0.35% against the USD in the 24 hour period ending 23:00GMT, at 1,612.05 per ounce, on renewed safe-haven buying amid growing geopolitical tensions between Iran and the US.
In the Asian session, at GMT0400, Gold is trading at 1616.22, 0.26% higher from yesterday’s close.
Gold is expected to find support at 1599.85, and a fall through could take it to the next support level of 1583.48. Gold is expected to find its first resistance at 1625.66, and a rise through could take it to the next resistance level of 1635.10.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
