Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.47% against the USD and closed at USD1321.70 per ounce, as the US dollar strengthened following a rebound in the US Treasury yields.
In the Asian session, at GMT0400, the pair is trading at 1322.20, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1318.10, and a fall through could take it to the next support level of 1314.00. The pair is expected to find its first resistance at 1326.70, and a rise through could take it to the next resistance level of 1331.20.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
