Gold Movement
For the 24 hours to 23:00 GMT, the Gold declined 0.16% against the USD and closed at 1189.5, reversing its previous session gains.
However, gold prices see-sawed throughout the session, amid a slight recovery in global equity markets.
In the Asian session, at GMT0400, the pair is trading at 1191.1, with the gold trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 1184.90, and a fall through could take it to the next support level of 1178.70. The pair is expected to find its first resistance at 1198.30, and a rise through could take it to the next resistance level of 1205.50.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
