Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.78% against the USD and closed at USD1567.70 per ounce.
In the Asian session, at GMT0400, the pair is trading at 1561.20, with gold trading 0.41% lower against the USD from yesterday’s close.
The pair is expected to find support at 1551.50, and a fall through could take it to the next support level of 1541.80. The pair is expected to find its first resistance at 1576.40, and a rise through could take it to the next resistance level of 1591.60.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
