Gold Movement
Gold prices traded lower by 0.21% against the USD in the 24 hour period ending 23:00GMT, at 1600.97 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1599.53, marginally lower from yesterday’s close.
Gold is expected to find support at 1594.90, and a fall through could take it to the next support level of 1590.28. Gold is expected to find its first resistance at 1603.90, and a rise through could take it to the next resistance level of 1608.28.
The yellow metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
