Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.59% against the USD and closed at USD 1318.80 per ounce, amid a broad rally in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1318.00, with the gold trading 0.06% lower from yesterday’s close, extending its previous session losses.
The pair is expected to find support at 1309.23, and a fall through could take it to the next support level of 1300.47. The pair is expected to find its first resistance at 1329.63, and a rise through could take it to the next resistance level of 1341.27.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
