Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.51% against the USD and closed at USD1327.80 per ounce, amid weakness in the US dollar and US equities.
In the Asian session, at GMT0400, the pair is trading at 1326.60, with gold trading 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 1321.40, and a fall through could take it to the next support level of 1316.20. The pair is expected to find its first resistance at 1331.30, and a rise through could take it to the next resistance level of 1336.00.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
