Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.36% against the USD and closed at USD1175.50 per ounce, as weakness in the greenback increased demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1180.10, with the gold trading 0.39% higher from yesterday’s close.
The pair is expected to find support at 1170.77, and a fall through could take it to the next support level of 1161.43. The pair is expected to find its first resistance at 1185.87, and a rise through could take it to the next resistance level of 1191.63.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
