Gold: Yellow metal reverses its losses in the Asian session

Gold: Yellow metal reverses its losses in the Asian session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 1.53% against the USD and closed at USD1462.40 per ounce, as investors preferred to keep money in cash against gold.

In the Asian session, at GMT0400, the pair is trading at 1485.90, with gold trading 1.61% higher against the USD from yesterday’s close.

The pair is expected to find support at 1463.03, and a fall through could take it to the next support level of 1440.17. The pair is expected to find its first resistance at 1503.23, and a rise through could take it to the next resistance level of 1520.57.

The yellow metal is trading above with its 20 Hr moving average and showing convergence with its 50 Hr moving average.

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