Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.32% against the USD and closed at USD1172.40 per ounce, as the US Dollar strengthened after the ECB announced an extension to its QE programme until December 2017.
In the Asian session, at GMT0400, the pair is trading at 1169.20, with the gold trading 0.27% lower from yesterday’s close.
The pair is expected to find support at 1163.63, and a fall through could take it to the next support level of 1158.07. The pair is expected to find its first resistance at 1177.73, and a rise through could take it to the next resistance level of 1186.27.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
