Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.81% against the USD and closed at USD1510.70 per ounce, as strength in the US dollar reduced demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1516.10, with gold trading 0.36% higher against the USD from yesterday’s close.
The pair is expected to find support at 1502.23, and a fall through could take it to the next support level of 1488.37. The pair is expected to find its first resistance at 1535.13, and a rise through could take it to the next resistance level of 1554.17.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
