Gold Movement
Gold prices traded higher by 0.76% against the USD in the 24 hour period ending 23:00GMT, at 1655.93 per ounce, as bargain hunters bounced back to take advantage of lower precious metal prices.
In the Asian session, at GMT0400, Gold is trading at 1662.19, 0.38% higher from yesterday’s close.
Gold is expected to find support at 1645.71, and a fall through could take it to the next support level of 1629.23. Gold is expected to find its first resistance at 1672.69, and a rise through could take it to the next resistance level of 1683.18.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
