Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.79% against the USD and closed at USD1507.20 per ounce, as broad strength in the US dollar and global equities reduced demand for safe haven assets.
In the Asian session, at GMT0300, the pair is trading at 1506.00, with gold trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1498.33, and a fall through could take it to the next support level of 1490.67. The pair is expected to find its first resistance at 1518.33, and a rise through could take it to the next resistance level of 1530.67.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
