Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.44% against the USD and closed at USD1332.00 per ounce, as weakness in the US Dollar and a decline in US equities increased demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1330.30, with gold trading 0.13% lower against the USD from yesterday’s close.
The pair is expected to find support at 1325.37, and a fall through could take it to the next support level of 1320.43. The pair is expected to find its first resistance at 1334.87, and a rise through could take it to the next resistance level of 1339.43.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
