Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.68% against the USD and closed at USD1408.20 per ounce, amid broad strength in the US dollar, following robust US retail sales data.
In the Asian session, at GMT0300, the pair is trading at 1407.00, with gold trading 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 1400.07, and a fall through could take it to the next support level of 1393.13. The pair is expected to find its first resistance at 1415.97, and a rise through could take it to the next resistance level of 1424.93.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
