Gold Movement
Gold prices traded higher by 0.56% against the USD in the 24 hour period ending 23:00GMT, at 1467.32 per ounce, as rate cut by the European Central Bank raised optimism for future demand for the precious metals.
In the Asian session, at GMT0300, Gold is trading at 1476.36, 0.62% higher from yesterday’s close.
Gold is expected to find support at 1459.95, and a fall through could take it to the next support level of 1443.53. Gold is expected to find its first resistance at 1485.01, and a rise through could take it to the next resistance level of 1493.65.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
