Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.54% against the USD and closed at USD1275.90 per ounce, amid gains in global equities and as investors remained cautious ahead of the outcome of the US Presidential election.
In the Asian session, at GMT0400, the pair is trading at 1318.90, with the gold trading 3.37% higher from yesterday’s close, as the US Dollar declined on rising prospects of a Trump victory.
The pair is expected to find support at 1283.23, and a fall through could take it to the next support level of 1247.57. The pair is expected to find its first resistance at 1339.43, and a rise through could take it to the next resistance level of 1359.97.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
