Gold Movement
Gold prices traded higher by 1.16% against the USD in the 24 hour period ending 23:00GMT, at 1077.60 per ounce, extending its previous session gains, on the back of a weaker greenback.
In the Asian session, at GMT0400, the pair is trading at 1077, with the gold trading marginally lower from yesterday’s close.
The pair is expected to find support at 1068.40, and a fall through could take it to the next support level of 1059.80. The pair is expected to find its first resistance at 1083.50, and a rise through could take it to the next resistance level of 1090.00.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
