Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.65% against the USD and closed at USD1807.50 per ounce, after economic data showed that US jobless claims declined more than expected and amid strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1806.70, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1795.70, and a fall through could take it to the next support level of 1784.70. The pair is expected to find its first resistance at 1821.60, and a rise through could take it to the next resistance level of 1836.50.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
