Gold Movement
On Friday Gold prices traded higher by 0.33% against the USD in the 24 hour period ending 23:00GMT, at 1773.60 per ounce.
In the Asian session, at GMT0300, Gold is trading at 1759.75, 0.78% lower from Friday’s close, as speculations that France and Germany are at odds as to when the Euro-zone should centralize banking supervision sent the precious metal falling amid profit taking.
Gold is expected to find support at 1749.13, and a fall through could take it to the next support level of 1738.50. Gold is expected to find its first resistance at 1778.95, and a rise through could take it to the next resistance level of 1798.14.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
