Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.52% against the USD and closed at USD1289.80 per ounce, as a broad strength in the greenback dulled demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1289.00, with the gold trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 1285.10, and a fall through could take it to the next support level of 1281.20. The pair is expected to find its first resistance at 1294.80, and a rise through could take it to the next resistance level of 1300.60.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
