Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.61% against the USD and closed at USD1576.10 per ounce, as investors weighed the prospects for further escalation in Middle East tensions.
In the Asian session, at GMT0400, the pair is trading at 1592.20, with gold trading 1.02% higher against the USD from yesterday’s close.
The pair is expected to find support at 1563.50, and a fall through could take it to the next support level of 1534.80. The pair is expected to find its first resistance at 1617.10, and a rise through could take it to the next resistance level of 1642.00.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
