Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.31% against the USD and closed at USD1512.40 per ounce, amid rise in global equities.
In the Asian session, at GMT0300, the pair is trading at 1511.90, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1506.40, and a fall through could take it to the next support level of 1500.90. The pair is expected to find its first resistance at 1517.50, and a rise through could take it to the next resistance level of 1523.10.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
