Gold Movement
For the 24 hours to 23:00 GMT, Gold marginally declined against the USD and closed at USD1678.50 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1682.70, with gold trading 0.25% higher against the USD from yesterday’s close, ahead of the US weekly jobless claims report.
The pair is expected to find support at 1672.80, and a fall through could take it to the next support level of 1662.90. The pair is expected to find its first resistance at 1694.20, and a rise through could take it to the next resistance level of 1705.70.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
