Gold Movement
Gold prices traded higher by 0.59% against the USD in the 24 hour period ending 23:00GMT, at 1210.93 per ounce, on rising physical demand from Asia.
In the Asian session, at GMT0400, Gold is trading at 1211.83, 0.07% higher from yesterday’s close.
Gold is expected to find support at 1204.82, and a fall through could take it to the next support level of 1197.82. Gold is expected to find its first resistance at 1217.39, and a rise through could take it to the next resistance level of 1222.96.
The yellow metal is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
