Gold Movement
Gold prices traded higher by 2.26% against the USD in the 24 hour period ending 23:00GMT, at 1,793.93 per ounce, amid political uncertainty in Italy which threatened to further complicate the Euro-zone’s sovereign debt crisis.
In the Asian session, at GMT0400, Gold is trading at 1,790.52, 0.19% lower from yesterday’s close.
Gold is expected to find support at 1,768.94, and a fall through could take it to the next support level of 1,747.37. Gold is expected to find its first resistance at 1,805.37, and a rise through could take it to the next resistance level of 1,820.23.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
