Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.47% against the USD and closed at USD1728.20 per ounce, as easing of coronavirus-led lockdowns and progress on an experimental treatment for COVID-19, reduced demand for the safe haven metal.
In the Asian session, at GMT0300, the pair is trading at 1725.50, with gold trading 0.16% lower against the USD from yesterday’s close.
The pair is expected to find support at 1711.30, and a fall through could take it to the next support level of 1697.10. The pair is expected to find its first resistance at 1736.60, and a rise through could take it to the next resistance level of 1747.70.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
