Gold Movement
Gold prices traded higher by 1.46% against the USD in the 24 hour period ending 23:00GMT, at 1604.50 per ounce, as the greenback weakened.
In the Asian session, at GMT0300, Gold is trading steady at 1604.40, from yesterday’s close.
Gold is expected to find support at 1586.48, and a fall through could take it to the next support level of 1568.55. Gold is expected to find its first resistance at 1616.45, and a rise through could take it to the next resistance level of 1628.49.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
