Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.23% against the USD and closed at USD1326.40 per ounce, as weakness in the US Dollar increased demand for the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1328.30, with the gold trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 1322.87, and a fall through could take it to the next support level of 1317.43. The pair is expected to find its first resistance at 1331.77, and a rise through could take it to the next resistance level of 1335.23.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
