Gold Movement
Gold prices traded higher by 1.00% against the USD in the 24 hour period ending 23:00GMT, at 1669.65 per ounce, as the Federal Reserve Bank of Chicago President, Charles Evans urged for further monetary-policy easing around the world.
In the Asian session, at GMT0300, Gold is trading at 1667.15, 0.15% lower from yesterday’s close.
Gold is expected to find support at 1657.98, and a fall through could take it to the next support level of 1648.82. Gold is expected to find its first resistance at 1675.63, and a rise through could take it to the next resistance level of 1684.12.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
