Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.40% against the USD and closed at USD1637.00 per ounce, amid profit booking.
In the Asian session, at GMT0400, the pair is trading at 1641.80, with gold trading 0.29% higher against the USD from yesterday’s close.
The pair is expected to find support at 1625.63, and a fall through could take it to the next support level of 1609.47. The pair is expected to find its first resistance at 1659.33, and a rise through could take it to the next resistance level of 1676.87.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
