Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.29% against the USD and closed at USD1332.5 per ounce, after weakness in global equities increased the demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1332.0, with the gold trading marginally lower from yesterday’s close.
The pair is expected to find support at 1326.4, and a fall through could take it to the next support level of 1320.8. The pair is expected to find its first resistance at 1338.2, and a rise through could take it to the next resistance level of 1344.4.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
