Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 2.10% against the USD and closed at USD1694.40 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1696.30, with gold trading 0.11% higher against the USD from yesterday’s close, boosted by the US Federal Reserve’s decision to keep interest rates near zero and speculation of a massive stimulus program by the European Central Bank to boost economy.
The pair is expected to find support at 1676.87, and a fall through could take it to the next support level of 1657.43. The pair is expected to find its first resistance at 1726.37, and a rise through could take it to the next resistance level of 1756.43.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
