Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.31% against the USD and closed at USD1174.80 per ounce, amid gains in the greenback and strength in global equity markets.
In the Asian session, at GMT0400, the pair is trading at 1171.50, with the gold trading 0.28% lower from yesterday’s close.
The pair is expected to find support at 1158.90, and a fall through could take it to the next support level of 1146.30. The pair is expected to find its first resistance at 1189.00, and a rise through could take it to the next resistance level of 1206.50.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
