Gold Movement
For the 24 hours to 23:00 GMT, the Gold rose 1.09% against the USD and closed at 1128.60, amid dismal economic data across major economies, dampening the picture of global economic growth.
In the Asian session, at GMT0400, the pair is trading at 1126.4, with the gold trading 0.19% lower from yesterday’s close.
The pair is expected to find support at 1120, and a fall through could take it to the next support level of 1113.60. The pair is expected to find its first resistance at 1131.90, and a rise through could take it to the next resistance level of 1137.40.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
