Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.06% against the USD and closed at USD1751.50 per ounce, amid hopes for more stimulus measures from major central banks.
In the Asian session, at GMT0300, the pair is trading at 1746.30, with gold trading 0.30% lower against the USD from yesterday’s close.
The pair is expected to find support at 1729.87, and a fall through could take it to the next support level of 1713.43. The pair is expected to find its first resistance at 1763.47, and a rise through could take it to the next resistance level of 1780.63.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
