Gold Movement
Gold prices traded lower by 0.22% against the USD in the 24 hour period ending 23:00GMT, at 1589.29 per ounce, as the dollar strengthened following upbeat US retail sales figures.
In the Asian session, at GMT0400, Gold is trading at 1586.76, 0.16% lower from yesterday’s close.
Gold is expected to find support at 1580.39, and a fall through could take it to the next support level of 1574.02. Gold is expected to find its first resistance at 1596.49, and a rise through could take it to the next resistance level of 1606.22.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
