Gold Movement
Gold prices traded lower by 1.40% against the USD in the 24 hour period ending 23:00GMT, at 1449.89 per ounce, as upbeat German factory orders data and strong performance by global equity markets boosted investors’ appetite for riskier assets.
In the Asian session, at GMT0300, Gold is trading at 1456.40, 0.45% higher from yesterday’s close.
Gold is expected to find support at 1442.37, and a fall through could take it to the next support level of 1428.33. Gold is expected to find its first resistance at 1469.47, and a rise through could take it to the next resistance level of 1482.53.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
