Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.76% against the USD and closed at USD 1335.2 per ounce, amid a rally in global equities.
In the Asian session, at GMT0300, the pair is trading at 1329.7, with the gold trading 0.41% lower from yesterday’s close.
The pair is expected to find support at 1318.87, and a fall through could take it to the next support level of 1308.03. The pair is expected to find its first resistance at 1342.07, and a rise through could take it to the next resistance level of 1354.43.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
