Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 2.37% against the USD and closed at USD1509.80 per ounce, as investors sold precious metals in exchange for cash.
In the Asian session, at GMT0400, the pair is trading at 1498.20, with gold trading 0.77% lower against the USD from yesterday’s close.
The pair is expected to find support at 1448.90, and a fall through could take it to the next support level of 1399.60. The pair is expected to find its first resistance at 1549.50, and a rise through could take it to the next resistance level of 1600.80.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
