Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.31% against the USD and closed at USD1362.90 per ounce, as comments from the US Treasury Secretary led to a decline in the US Dollar, thereby boosting demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1368.10, with gold trading 0.38% higher against the USD from yesterday’s close.
The pair is expected to find support at 1352.33, and a fall through could take it to the next support level of 1336.57. The pair is expected to find its first resistance at 1376.23, and a rise through could take it to the next resistance level of 1384.37.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
