Gold Movement
Gold prices traded higher by 0.28% against the USD in the 24 hour period ending 23:00GMT, at 1369.50 per ounce, buoyed by speculation that upcoming festivals in India, might spur physical demand for the commodity. Investors also await the release of minutes from Fed’s latest policy meeting for further direction.
In the Asian session, at GMT0300, Gold is trading at 1372.45, 0.22% higher from yesterday’s close.
Gold is expected to find support at 1357.08, and a fall through could take it to the next support level of 1341.71. Gold is expected to find its first resistance at 1382.81, and a rise through could take it to the next resistance level of 1393.17.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
