Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.07% against the USD and closed at USD1674.40 per ounce on Friday, as mounting worries about the spread of coronavirus increased demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1676.30, with gold trading 0.11% higher against the USD from Friday’s close.
The pair is expected to find support at 1644.47, and a fall through could take it to the next support level of 1612.63. The pair is expected to find its first resistance at 1706.07, and a rise through could take it to the next resistance level of 1735.83.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
