Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.58% against the USD and closed at USD1517.00 per ounce, amid weakness in the US dollar.
In the Asian session, at GMT0300, the pair is trading at 1516.40, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1504.90, and a fall through could take it to the next support level of 1493.40. The pair is expected to find its first resistance at 1524.60, and a rise through could take it to the next resistance level of 1532.80.
The yellow metal is trading above with its 20 Hr and 50 Hr moving averages.
