Gold Movement
Gold prices traded higher by 1.20% against the USD in the 24 hour period ending 23:00GMT, at 1430.47 per ounce, as strong physical demand from Asia, particularly India and China, encouraged buying.
In the Asian session, at GMT0300, Gold is trading at 1447.00, 1.16% higher from yesterday’s close.
Gold is expected to find support at 1428.45, and a fall through could take it to the next support level of 1409.90. Gold is expected to find its first resistance at 1456.40, and a rise through could take it to the next resistance level of 1465.80.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
