Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.16% against the USD and closed at USD1332.00 per ounce, after the US President, Donald Trump backed from his decision to impose trade tariffs on Mexico.
In the Asian session, at GMT0300, the pair is trading at 1333.20, with gold trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1329.90, and a fall through could take it to the next support level of 1326.60. The pair is expected to find its first resistance at 1335.60, and a rise through could take it to the next resistance level of 1338.00.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
