Gold Movement
For the 24 hours to 23:00 GMT, the Gold declined 0.98% against the USD and closed at 1115.30, amid a strength in the US equity markets and due to a significant rebound in oil prices.
In the Asian session, at GMT0400, the pair is trading at 1113.70, with the gold trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 1107.13, and a fall through could take it to the next support level of 1100.56. The pair is expected to find its first resistance at 1121.63, and a rise through could take it to the next resistance level of 1129.56.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
