Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.15% against the USD and closed at USD1547.00 per ounce, as strength in the US dollar reduced demand for the dollar denominated commodity.
In the Asian session, at GMT0400, the pair is trading at 1552.00, with gold trading 0.32% higher against the USD from yesterday’s close.
The pair is expected to find support at 1541.33, and a fall through could take it to the next support level of 1530.67. The pair is expected to find its first resistance at 1558.03, and a rise through could take it to the next resistance level of 1564.07.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
