Gold prices traded lower by 1.45% against the USD in the 24 hour period ending 23:00GMT, at 1551.65 per ounce, as the greenback strengthened.
In the Asian session, at GMT0300, Gold is trading at 1564.55, 0.83% higher from yesterday’s close.
Gold is expected to find support at 1549.29, and a fall through could take it to the next support level of 1534.02. Gold is expected to find its first resistance at 1578.91, and a rise through could take it to the next resistance level of 1593.26.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.