Gold Movement
Gold prices traded lower by 0.89% against the USD in the 24 hour period ending 23:00GMT, at 1,664.45 per ounce, amid profit booking and as Slovakia made slow progress on voting on the expansion of the European rescue fund.
In the Asian session, at GMT0300, Gold is trading at 1667.07, 0.16% higher from yesterday’s close.
Gold is expected to find support at 1652.64, and a fall through could take it to the next support level of 1638.20. Gold is expected to find its first resistance at 1683.07, and a rise through could take it to the next resistance level of 1699.06.
The yellow metal is trading just above its 20 Hr and its 50 Hr moving averages.
