Gold Movement
Gold prices traded higher by 0.34% against the USD in the 24 hour period ending 23:00GMT, at 1281.30 per ounce, despite the US registering encouraging durable goods and consumer confidence data.
In the Asian session, at GMT0300, Gold is trading at 1285, 0.29% higher from yesterday’s close.
Gold is expected to find support at 1278.43, and a fall through could take it to the next support level of 1271.87. Gold is expected to find its first resistance at 1291.73, and a rise through could take it to the next resistance level of 1298.47.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
