Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.84% against the USD and closed at USD2055.60 per ounce, as the US dollar weakened and amid decline in the US Treasury yields.
In the Asian session, at GMT0300, the pair is trading at 2055.60, with gold trading flat against the USD from yesterday’s close.
The pair is expected to find support at 2031.97, and a fall through could take it to the next support level of 2008.33. The pair is expected to find its first resistance at 2074.77, and a rise through could take it to the next resistance level of 2093.93.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
