- Gold Movement
Gold prices traded higher by 2.78% against the USD in the 24 hour period ending 23:00GMT, at 1,697.93 per ounce, as demand for the safe haven asset increased amid uncertainty over the upcoming European Union debt summit and following a disappointing US consumer data.
In the Asian session, at GMT0300, Gold is trading at 1,714.25, 0.96% higher from yesterday’s close.
Gold is expected to find support at 1,669.95, and a fall through could take it to the next support level of 1,625.64. Gold is expected to find its first resistance at 1,737.43, and a rise through could take it to the next resistance level of 1,760.60.
The yellow metal is trading above its 20 Hr and its 50 Hr moving averages.
