Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.30% against the USD and closed at USD1329.70 per ounce, amid gains in global equities, following progress in US-China trade war.
In the Asian session, at GMT0400, the pair is trading at 1331.00, with gold trading 0.10% higher against the USD from yesterday’s close.
The pair is expected to find support at 1327.23, and a fall through could take it to the next support level of 1323.47. The pair is expected to find its first resistance at 1334.83, and a rise through could take it to the next resistance level of 1338.67.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
