Gold: Yellow metal trading on a weaker footing this morning

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 1.11% against the USD and closed at USD1344.30 per ounce, amid a broad weakness in the greenback.

In the Asian session, at GMT0300, the pair is trading at 1342.30, with gold trading 0.15% lower against the USD from yesterday’s close.

The pair is expected to find support at 1333.33, and a fall through could take it to the next support level of 1324.37. The pair is expected to find its first resistance at 1350.23, and a rise through could take it to the next resistance level of 1358.17.

The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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