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Categorized | Forex News

Gold: Gold gives up yesterday’s gains

Posted on10 July 2012. Tags: , , ,

Gold Movement

Gold prices traded higher by 0.51% against the USD in the 24 hour period ending 23:00GMT, at 1587.65 per ounce.

In the Asian session, at GMT0300, Gold is trading at 1585.48, 0.14% lower from yesterday’s close.

Gold is expected to find support at 1578.90, and a fall through could take it to the next support level of 1572.32. Gold is expected to find its first resistance at 1592.48, and a rise through could take it to the next resistance level of 1599.48.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.