Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 3.72% against the USD and closed at USD1938.50 per ounce, as the US dollar strengthened and amid rise in Treasury yields.
In the Asian session, at GMT0300, the pair is trading at 1950.30, with gold trading 0.61% higher against the USD from yesterday’s close.
The pair is expected to find support at 1918.47, and a fall through could take it to the next support level of 1886.63. The pair is expected to find its first resistance at 1994.17, and a rise through could take it to the next resistance level of 2038.03.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
