Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.10% against the USD and closed at USD1784.30 per ounce, as rapidly increasing coronavirus cases raised doubts over economic recovery.
In the Asian session, at GMT0300, the pair is trading at 1783.80, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1777.07, and a fall through could take it to the next support level of 1770.33. The pair is expected to find its first resistance at 1789.97, and a rise through could take it to the next resistance level of 1796.13.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
