Gold Movement
Gold prices traded lower by 1.80% against the USD in the 24 hour period ending 23:00GMT, at 1,613.93 per ounce, as investors sold off precious metal amid uncertainty over the resolution by eurozone officials to contain the debt crisis.
In the Asian session, at GMT0300, Gold is trading at 1625.93, 0.74% higher from yesterday’s close.
Gold is expected to find support at 1609.70, and a fall through could take it to the next support level of 1593.47. Gold is expected to find its first resistance at 1636.43, and a rise through could take it to the next resistance level of 1646.93.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
