Gold Movement
Gold prices traded higher by 0.64% against the USD in the 24 hour period ending 23:00GMT, at 1,652.02 per ounce, as European leaders edged towards a solid plan to resolve the eurozone debt crisis and amid optimism about the Chinese economic growth, after the release of strong Chinese manufacturing data.
In the Asian session, at GMT0300, Gold is trading at 1655.93, 0.24% higher from yesterday’s close.
Gold is expected to find support at 1643.11, and a fall through could take it to the next support level of 1630.29. Gold is expected to find its first resistance at 1665.39, and a rise through could take it to the next resistance level of 1674.85.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
