Gold Movement
Gold prices traded higher by 0.23% against the USD in the 24 hour period ending 23:00GMT, at 1686.35 per ounce, amid demand from bargain hunters. Additionally, the upcoming festive season in India also boosted gold prices.
In the Asian session, at GMT0400, Gold is trading at 1685.64, marginally lower from yesterday’s close, ahead of the US Presidential elections later today.
Gold is expected to find support at 1676.58, and a fall through could take it to the next support level of 1667.52. Gold is expected to find its first resistance at 1690.80, and a rise through could take it to the next resistance level of 1695.96.
The yellow metal is trading in between its 20 Hr and 50 Hr moving averages.
