Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.75% against the USD and closed at USD1316.60 per ounce, as strength in the greenback dented demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1316.30, with gold trading a tad lower against the USD from yesterday’s close.
The pair is expected to find support at 1310.50, and a fall through could take it to the next support level of 1304.70. The pair is expected to find its first resistance at 1325.10, and a rise through could take it to the next resistance level of 1333.90.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
