Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.58% against the USD and closed at USD1190.00 per ounce, amid strength in US equity markets following upbeat GDP growth data for the third quarter.
In the Asian session, at GMT0400, the pair is trading at 1191.80, with the gold trading 0.15% higher from yesterday’s close.
The pair is expected to find support at 1184.00, and a fall through could take it to the next support level of 1176.20. The pair is expected to find its first resistance at 1198.20, and a rise through could take it to the next resistance level of 1204.60.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
