Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.69% against the USD and closed at USD1819.60 per ounce, as continuing concerns over global surge in coronavirus cases increased demand for the safe haven metal.
In the Asian session, at GMT0300, the pair is trading at 1820.30, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1806.13, and a fall through could take it to the next support level of 1791.97. The pair is expected to find its first resistance at 1832.13, and a rise through could take it to the next resistance level of 1843.97.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
