Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.81% against the USD and closed at USD1281.90 per ounce, as global equities rallied on news that Hillary Clinton would not face criminal charges over her use of a private email server, paving the way for her win in the US Presidential election.
In the Asian session, at GMT0400, the pair is trading at 1283.40, with the gold trading 0.12% higher from yesterday’s close, ahead of the outcome of the Presidential election.
The pair is expected to find support at 1276.73, and a fall through could take it to the next support level of 1270.07. The pair is expected to find its first resistance at 1291.93, and a rise through could take it to the next resistance level of 1300.47.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
