Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.61% against the USD and closed at USD1493.70 per ounce, as weakness in the greenback boosted demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1492.50, with gold trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1483.13, and a fall through could take it to the next support level of 1473.77. The pair is expected to find its first resistance at 1499.33, and a rise through could take it to the next resistance level of 1506.17.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
