Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.24% against the USD and closed at USD1314.90 per ounce, amid strength in the US Dollar and a rally in global equities.
In the Asian session, at GMT0300, the pair is trading at 1314.50, with gold trading a tad lower against the USD from yesterday’s close.
The pair is expected to find support at 1310.33, and a fall through could take it to the next support level of 1306.17. The pair is expected to find its first resistance at 1318.93, and a rise through could take it to the next resistance level of 1323.37.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
