For the 24 hours to 23:00 GMT, Gold declined 0.62% against the USD and closed at USD1972.60 per ounce, as the Federal Reserve’s pledge to support the US economy boosted investors’ risk appetite.
In the Asian session, at GMT0300, the pair is trading at 1986.50, with gold trading 0.70% higher against the USD from yesterday’s close.
The pair is expected to find support at 1963.60, and a fall through could take it to the next support level of 1940.70. The pair is expected to find its first resistance at 1998.10, and a rise through could take it to the next resistance level of 2009.70.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.