Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.83% against the USD and closed at 1356.10, as hopes of more stimulus from some key central banks led to a rally in global equities.
In the Asian session, at GMT0300, the pair is trading at 1357.10, with the gold trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 1348.57, and a fall through could take it to the next support level of 1340.03. The pair is expected to find its first resistance at 1368.87, and a rise through could take it to the next resistance level of 1380.63.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
