Gold Movement
Gold prices traded higher by 0.50% against the USD in the 24 hour period ending 23:00GMT, at 1663.80 per ounce, on hopes that the US Federal Reserve would opt to continue with monetary stimulus.
In the Asian session, at GMT0400, Gold is trading at 1667.05, 0.20% higher from yesterday’s close.
Gold is expected to find support at 1661.33, and a fall through could take it to the next support level of 1655.62. Gold is expected to find its first resistance at 1670.38, and a rise through could take it to the next resistance level of 1673.72.
The yellow metal is trading above with its 20 Hr and 50 Hr moving averages.
