Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 2.07% against the USD and closed at USD1672.90 per ounce, as concerns over the rapidly spreading coronavirus boosted demand for the safe-haven asset.
In the Asian session, at GMT0400, the pair is trading at 1669.30, with gold trading 0.22% lower against the USD from yesterday’s close.
The pair is expected to find support at 1645.57, and a fall through could take it to the next support level of 1621.83. The pair is expected to find its first resistance at 1685.17, and a rise through could take it to the next resistance level of 1701.03.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
