Gold Movement
For the 24 hours to 23:00 GMT, Gold slightly rose against the USD and closed at USD1288.60 per ounce.
In the Asian session, at GMT0400, the pair is trading at USD1287.80, with gold trading 0.06% lower against the USD from yesterday’s close, amid demand concerns after China, the world’s biggest gold consumer, lowered its economic growth projections for 2019.
The pair is expected to find support at 1283.00, and a fall through could take it to the next support level of 1278.20. The pair is expected to find its first resistance at 1291.60, and a rise through could take it to the next resistance level of 1295.40.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
