Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.19% against the USD and closed at USD1559.70 per ounce, amid speculation that global central banks would maintain loose monetary policy.
In the Asian session, at GMT0400, the pair is trading at 1558.00, with gold trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 1550.67, and a fall through could take it to the next support level of 1543.33. The pair is expected to find its first resistance at 1565.78, and a rise through could take it to the next resistance level of 1573.53.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
