Gold Movement
Gold prices traded lower by 0.29% against the USD in the 24 hour period ending 23:00GMT, at 1,609.73 per ounce, as safe-haven buying fell, amid weak global cues.
In the Asian session, at GMT0400, Gold is trading at 1616.29, 0.41% higher from yesterday’s close.
Gold is expected to find support at 1607.23, and a fall through could take it to the next support level of 1598.17. Gold is expected to find its first resistance at 1624.61, and a rise through could take it to the next resistance level of 1632.92.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
