Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.51% against the USD and closed at USD1313.60 per ounce, as weakness in the US Dollar and geopolitical tensions, boosted demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1314.10, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1307.73, and a fall through could take it to the next support level of 1301.37. The pair is expected to find its first resistance at 1319.73, and a rise through could take it to the next resistance level of 1325.37.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
