Gold Movement
Gold prices traded lower by 0.61% against the USD in the 24 hour period ending 23:00GMT, at 1,643.50 per ounce, as investors sold off precious metals over lack of progress over eurozone debt talks.
In the Asian session, at GMT0300, Gold is trading at 1623.53, 1.22% lower from yesterday’s close.
Gold is expected to find support at 1609.42, and a fall through could take it to the next support level of 1595.30. Gold is expected to find its first resistance at 1650.95, and a rise through could take it to the next resistance level of 1678.36.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
