Gold Movement
For the 24 hours to 23:00 GMT, Gold slightly rose against the USD and closed at USD1480.50 per ounce.
In the Asian session, at GMT0400, the pair is trading at 1480.80, with gold trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 1477.83, and a fall through could take it to the next support level of 1474.87. The pair is expected to find its first resistance at 1484.33, and a rise through could take it to the next resistance level of 1487.87.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
