Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.10% against the USD and closed at USD1569.1 per ounce, as drop in the number of new coronavirus cases dampened demand for the safe haven asset.
In the Asian session, at GMT0400, the pair is trading at 1576.70, with gold trading 0.48% higher against the USD from yesterday’s close.
The pair is expected to find support at 1568.37, and a fall through could take it to the next support level of 1560.03. The pair is expected to find its first resistance at 1581.07, and a rise through could take it to the next resistance level of 1585.43.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
