Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.94% against the USD and closed at USD1499.20 per ounce, as a broadly firmer US Dollar dented demand for the safe haven commodity.
In the Asian session, at GMT0300, the pair is trading at 1497, with gold trading 0.15% lower against the USD from yesterday’s close.
The pair is expected to find support at 1488.20, and a fall through could take it to the next support level of 1479.40. The pair is expected to find its first resistance at 1509.70, and a rise through could take it to the next resistance level of 1522.40.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
