Gold Movement
Gold prices traded higher by 0.08% against the USD in the 24 hour period ending 23:00GMT, at 1310.10 per ounce as geo-political issues in Eastern Europe are proving to be worse for the Euro-zone’s economic recovery.
In the Asian session, at GMT0300, Gold is trading at 1309.9, tad lower from yesterday’s close.
Gold is expected to find support at 1304.7, and a fall through could take it to the next support level of 1299.5. Gold is expected to find its first resistance at 1317.2, and a rise through could take it to the next resistance level of 1324.5.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
