Gold: Yellow metal reverses its gains in the Asian session


Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.16% against the USD and closed at USD1750.6 per ounce, following the Federal Reserve’s meeting minutes and amid uncertainty over a potential coronavirus vaccine.

In the Asian session, at GMT0300, the pair is trading at 1740.90, with gold trading 0.55% lower against the USD from yesterday’s close.

The pair is expected to find support at 1734.07, and a fall through could take it to the next support level of 1727.23. The pair is expected to find its first resistance at 1752.67, and a rise through could take it to the next resistance level of 1764.43.

The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.

This entry was posted in Gold. Bookmark the permalink.

Comments are closed.