Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.08% against the USD and closed at USD1325.10 per ounce, amid a broad rally in global equity markets.
In the Asian session, at GMT0400, the pair is trading at 1326.30, with gold trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1320.30, and a fall through could take it to the next support level of 1314.30. The pair is expected to find its first resistance at 1330.30, and a rise through could take it to the next resistance level of 1334.30.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
