Gold Movement
Gold prices traded higher by 0.37% against the USD in the 24 hour period ending 23:00GMT, at 1274.36 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1283.21, 0.69% higher from yesterday’s close, ahead of the Fed Chief, Janet Yellen’s testimony to the US lawmakers.
Gold is expected to find support at 1271.81, and a fall through could take it to the next support level of 1260.40. Gold is expected to find its first resistance at 1291.21, and a rise through could take it to the next resistance level of 1299.20.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
