Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.25% against the USD and closed at USD 1130.30 per ounce, amid a broad strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1132.50, with the gold trading 0.19% higher from yesterday’s close.
The pair is expected to find support at 1122.67, and a fall through could take it to the next support level of 1112.83. The pair is expected to find its first resistance at 1143.97, and a rise through could take it to the next resistance level of 1155.43.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
