Gold Movement
For the 24 hours to 23:00 GMT, the Gold rose 1.19% against the USD and closed at 1156.0, extending its previous session gains, amid a broad-weakness in US Dollar and low potential for a Fed rate hike in the near term, prompted investors to turn to precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1156.2, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1144.97, and a fall through could take it to the next support level of 1133.73. The pair is expected to find its first resistance at 1162.67, and a rise through could take it to the next resistance level of 1169.13.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
