Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.12% against the USD and closed at USD1723.20 per ounce, on hopes of economic recovery.
In the Asian session, at GMT0300, the pair is trading at 1725.70, with gold trading 0.15% higher against the USD from yesterday’s close.
The pair is expected to find support at 1708.70, and a fall through could take it to the next support level of 1691.70. The pair is expected to find its first resistance at 1735.60, and a rise through could take it to the next resistance level of 1745.50.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
