Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.61% against the USD and closed at USD1579.00 per ounce, after a change in the methodology used by China resulted in a sharp rise in the number of new coronavirus cases in the mainland.
In the Asian session, at GMT0400, the pair is trading at 1577.10, with gold trading 0.12% lower against the USD from yesterday’s close.
The pair is expected to find support at 1573.50, and a fall through could take it to the next support level of 1569.90. The pair is expected to find its first resistance at 1581.20, and a rise through could take it to the next resistance level of 1585.30.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
