Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.66% against the USD and closed at USD1696.30 per ounce on Friday, amid positive result from a drug that showed potential to treat COVID-19 and amid news that US President, Donald Trump plans to reopen the economy.
In the Asian session, at GMT0300, the pair is trading at 1694.90, with gold trading 0.08% lower against the USD from Friday’s close.
The pair is expected to find support at 1677.63, and a fall through could take it to the next support level of 1660.37. The pair is expected to find its first resistance at 1719.53, and a rise through could take it to the next resistance level of 1744.17.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
