Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.22% against the USD and closed at USD2078.30 per ounce, amid weakness in the US dollar and concerns over growing coronavirus cases.
In the Asian session, at GMT0300, the pair is trading at 2077.8, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 2056.67, and a fall through could take it to the next support level of 2035.53. The pair is expected to find its first resistance at 2094.07, and a rise through could take it to the next resistance level of 2110.33.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
