Gold: Yellow metal reverses its losses in the morning session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 1.04% against the USD and closed at USD1407.00 per ounce.

In the Asian session, at GMT0300, the pair is trading at 1410.10, with gold trading 0.22% higher against the USD from yesterday’s close.

The pair is expected to find support at 1399.47, and a fall through could take it to the next support level of 1388.83. The pair is expected to find its first resistance at 1423.97, and a rise through could take it to the next resistance level of 1437.83.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

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