Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.41% against the USD and closed at USD1512.00 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1515.60, with gold trading 0.24% higher against the USD from yesterday’s close, as a weaker US dollar boosted the demand appeal for the dollar denominated commodity.
The pair is expected to find support at 1502.93, and a fall through could take it to the next support level of 1490.27. The pair is expected to find its first resistance at 1527.03, and a rise through could take it to the next resistance level of 1538.47.
The yellow metal is trading above with its 20 Hr and 50 Hr moving averages.
