Gold Movement
For the 24 hours to 23:00 GMT, Gold marginally declined against the USD and closed at USD1171.40 per ounce, amid strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1170.90, with the gold trading slightly lower from yesterday’s close.
The pair is expected to find support at 1166.97, and a fall through could take it to the next support level of 1163.03. The pair is expected to find its first resistance at 1175.97, and a rise through could take it to the next resistance level of 1181.03.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
