Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.64% against the USD and closed at USD1329.2 per ounce, amid a rally in global equities.
In the Asian session, at GMT0300, the pair is trading at 1329.4, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1323.27, and a fall through could take it to the next support level of 1317.13. The pair is expected to find its first resistance at 1335.77, and a rise through could take it to the next resistance level of 1342.13.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
