Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.86% against the USD and closed at USD1494.70 per ounce, amid strength in the US equities.
In the Asian session, at GMT0400, the pair is trading at 1494.70, with gold trading flat against the USD from yesterday’s close.
The pair is expected to find support at 1487.73, and a fall through could take it to the next support level of 1480.77. The pair is expected to find its first resistance at 1506.23, and a rise through could take it to the next resistance level of 1517.77.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
