Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.48% against the USD and closed at USD1438.60 per ounce, amid hopes of monetary policy easing by major central banks.
In the Asian session, at GMT0300, the pair is trading at 1436.30, with gold trading 0.16% lower against the USD from yesterday’s close.
The pair is expected to find support at 1423.10, and a fall through could take it to the next support level of 1409.90. The pair is expected to find its first resistance at 1446.20, and a rise through could take it to the next resistance level of 1456.10.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
