Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.26% against the USD and closed at USD1494.80 per ounce, as ongoing Brexit uncertainty boosted demand appeal for the safe haven commodity.
In the Asian session, at GMT0300, the pair is trading at 1495.30, with gold trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 1491.13, and a fall through could take it to the next support level of 1486.97. The pair is expected to find its first resistance at 1499.43, and a rise through could take it to the next resistance level of 1503.57.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
