Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.11% against the USD and closed at USD1319.40 per ounce, as a broad sell-off in global equities increased demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1316.20, with gold trading 0.24% lower against the USD from yesterday’s close.
The pair is expected to find support at 1313.37, and a fall through could take it to the next support level of 1310.53. The pair is expected to find its first resistance at 1321.37, and a rise through could take it to the next resistance level of 1326.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
