Gold Movement
Gold prices traded higher by 0.56% against the USD in the 24 hour period ending 23:00GMT, at 1394.01 per ounce, on increased physical demand from Asian countries especially from India and China.
In the Asian session, at GMT0300, Gold is trading at 1389.72, 0.31% lower from yesterday’s close.
Gold is expected to find support at 1385.55, and a fall through could take it to the next support level of 1381.38. Gold is expected to find its first resistance at 1395.52, and a rise through could take it to the next resistance level of 1401.32.
The yellow metal is trading just below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
