Gold Movement
Gold prices traded higher by 0.43% against the USD in the 24 hour period ending 23:00GMT, at 1340.63 per ounce, as a dismal US consumer confidence data spurred demand for the safe-haven metal.
Meanwhile, assets in the SPDR Gold Trust, the biggest exchange-traded product backed by bullion, advanced to its highest level since November 2012.
In the Asian session, at GMT0400, Gold is trading at 1340.91, tad higher from yesterday’s close.
Gold is expected to find support at 1333.65, and a fall through could take it to the next support level of 1326.38. Gold is expected to find its first resistance at 1345.97, and a rise through could take it to the next resistance level of 1351.02.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
