Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.54% against the USD and closed at USD1742.60 per ounce, as the US Dollar strengthened and amid profit booking.
In the Asian session, at GMT0300, the pair is trading at 1743.40, with gold trading 0.05% higher against the USD from yesterday’s close.
The pair is expected to find support at 1730.50, and a fall through could take it to the next support level of 1717.60. The pair is expected to find its first resistance at 1757.40, and a rise through could take it to the next resistance level of 1771.40.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
