Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.31% against the USD and closed at 1078.80, as a stronger dollar and a rebound in US stock market reduced demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1080.30, with the gold trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 1069.23, and a fall through could take it to the next support level of 1058.17. The pair is expected to find its first resistance at 1093.23, and a rise through could take it to the next resistance level of 1106.17.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
