Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.79% against the USD and closed at USD1321.80 per ounce, amid a broad strength in the greenback.
Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.47% to 935.49 tonnes.
In the Asian session, at GMT0300, the pair is trading at 1322.50, with the gold trading slightly higher from yesterday’s close.
The pair is expected to find support at 1314.10, and a fall through could take it to the next support level of 1305.70. The pair is expected to find its first resistance at 1333.40, and a rise through could take it to the next resistance level of 1344.30.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
