Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.95% against the USD and closed at USD1724.30 per ounce, as plans to ease lockdown restrictions by many countries reduced demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1717.20, with gold trading 0.41% lower against the USD from yesterday’s close.
The pair is expected to find support at 1703.53, and a fall through could take it to the next support level of 1689.87. The pair is expected to find its first resistance at 1738.33, and a rise through could take it to the next resistance level of 1759.47.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
