Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.72% against the USD and closed at USD1570.20 per ounce, as hopes for low interest rates and concerns about the economic impact of the coronavirus epidemic increased demand for the safe-haven metal.
In the Asian session, at GMT0400, the pair is trading at 1570.40, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1560.03, and a fall through could take it to the next support level of 1549.67. The pair is expected to find its first resistance at 1576.73, and a rise through could take it to the next resistance level of 1583.07.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
