Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.33% against the USD and closed at USD1228.50 per ounce, ahead of the outcome of US midterm elections.
In the Asian session, at GMT0400, the pair is trading at 1230.00, with gold trading 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 1223.53, and a fall through could take it to the next support level of 1217.07. The pair is expected to find its first resistance at 1237.13, and a rise through could take it to the next resistance level of 1244.27.
The yellow metal is showing convergence with its 20 Hr moving and 50 Hr moving averages.
