Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.76% against the USD and closed at USD1322.60 per ounce, as a broad strength in the greenback, reduced the allure of the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1324.80, with gold trading 0.17% higher against the USD from yesterday’s close.
The pair is expected to find support at 1319.63, and a fall through could take it to the next support level of 1314.47. The pair is expected to find its first resistance at 1330.53, and a rise through could take it to the next resistance level of 1336.27.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
