Gold Movement
For the 24 hours to 23:00 GMT, Gold declined marginally against the USD and closed at USD1196.40 per ounce.
In the Asian session, at GMT0400, the pair is trading at 1192.40, with the gold trading 0.33% lower from yesterday’s close.
The pair is expected to find support at 1185.07, and a fall through could take it to the next support level of 1177.73. The pair is expected to find its first resistance at 1199.57, and a rise through could take it to the next resistance level of 1206.73.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
