Gold Movement
Gold prices traded marginally higher against the USD in the 24 hour period ending 23:00GMT, at 1475.31 per ounce, amid hopes of further monetary easing by the US and European central-bank.
In the Asian session, at GMT0300, Gold is trading at 1475.15, marginally lower from yesterday’s close.
Gold is expected to find support at 1464.23, and a fall through could take it to the next support level of 1453.30. Gold is expected to find its first resistance at 1483.14, and a rise through could take it to the next resistance level of 1491.12.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
