Gold Movement
Gold prices traded higher by 0.10% against the USD in the 24 hour period ending 23:00GMT, at 1665.75 per ounce, as the greenback weakened on poor US economic data. In the Asian session, at GMT0300, Gold is trading at 1666.56, 0.05% higher from yesterday’s close.
Gold is expected to find support at 1651.47, and a fall through could take it to the next support level of 1636.38. Gold is expected to find its first resistance at 1674.87, and a rise through could take it to the next resistance level of 1683.17.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.