Gold Movement
Gold prices traded higher by 0.42% against the USD in the 24 hour period ending 23:00GMT, at 1668.03 per ounce, as traders snapped up long positions in the shiny metal on speculation that the Federal Reserve would make no changes to its stimulus polices in the near future.
In the Asian session, at GMT0400, Gold is trading at 1671.36, 0.20% higher from yesterday’s close.
Gold is expected to find support at 1665.40, and a fall through could take it to the next support level of 1659.45. Gold is expected to find its first resistance at 1676.16, and a rise through could take it to the next resistance level of 1680.96.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
