Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.18% against the USD and closed at USD1530.00 per ounce, amid fears of recession.
In the Asian session, at GMT0300, the pair is trading at 1531.00, with gold trading 0.07% higher against the USD from yesterday’s close.
The pair is expected to find support at 1513.50, and a fall through could take it to the next support level of 1496.00. The pair is expected to find its first resistance at 1541.70, and a rise through could take it to the next resistance level of 1552.40.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
