Gold Movement
Gold prices traded lower by 1.10% against the USD in the 24 hour period ending 23:00GMT, at 1635.38 per ounce, as the greenback strengthened.
In the Asian session, at GMT0300, Gold is trading at 1637.00, 0.10% higher from yesterday’s close.
Gold is expected to find support at 1628.83, and a fall through could take it to the next support level of 1620.66. Gold is expected to find its first resistance at 1647.73, and a rise through could take it to the next resistance level of 1658.47.
The yellow metal is showing convergence with its 20 Hr and is trading below its 50 Hr moving average.