Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.46% against the USD and closed at USD1622.30 per ounce, as rise in the number of new coronavirus cases in South Korea and Japan renewed concerns about the global economic impact of the outbreak.
In the Asian session, at GMT0400, the pair is trading at 1627.40, with gold trading 0.31% higher against the USD from yesterday’s close.
The pair is expected to find support at 1613.40, and a fall through could take it to the next support level of 1599.40. The pair is expected to find its first resistance at 1634.60, and a rise through could take it to the next resistance level of 1641.80.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
