Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.09% against the USD and closed at USD1505.80 per ounce, after the European Central Bank announced stimulus measures.
In the Asian session, at GMT0300, the pair is trading at 1504.70, with gold trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1492.40, and a fall through could take it to the next support level of 1480.10. The pair is expected to find its first resistance at 1524.60, and a rise through could take it to the next resistance level of 1544.50.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
