Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.47% against the USD and closed at USD1787.70 per ounce, amid fears over increasing coronavirus cases across the globe.
In the Asian session, at GMT0300, the pair is trading at 1788.50, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1772.63, and a fall through could take it to the next support level of 1756.77. The pair is expected to find its first resistance at 1798.03, and a rise through could take it to the next resistance level of 1807.57.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
