Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 2.67% against the USD and closed at 1206.30, as a rally in global equity markets pointed towards investor appetite for risk.
In the Asian session, at GMT0400, the pair is trading at 1193, with the gold trading 1.1% lower from yesterday’s close.
The pair is expected to find support at 1182.13, and a fall through could take it to the next support level of 1171.27. The pair is expected to find its first resistance at 1214.33, and a rise through could take it to the next resistance level of 1235.67.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
