Gold Movement
Gold prices traded higher by 0.32% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1662.81 per ounce, as greenback weakened, amid downbeat US economic data.
In the Asian session, at GMT0300, Gold is trading at 1664.15, 0.08% higher from Friday’s close.
Gold is expected to find support at 1653.92, and a fall through could take it to the next support level of 1643.70. Gold is expected to find its first resistance at 1671.04, and a rise through could take it to the next resistance level of 1677.93.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
Contributed by GCI Trading
