Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.42% against the USD and closed at USD1358.60 per ounce, as weakness in the greenback, boosted demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1358.40, with gold trading marginally lower against the USD from yesterday’s close, as trade tensions between the US and China faded.
The pair is expected to find support at 1351.13, and a fall through could take it to the next support level of 1343.87. The pair is expected to find its first resistance at 1363.73, and a rise through could take it to the next resistance level of 1369.07.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
