Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 1.62% against the USD and closed at USD1450.60 per ounce, amid broad weakness in the US dollar.

In the Asian session, at GMT0300, the pair is trading at 1444.90, with gold trading 0.39% lower against the USD from yesterday’s close.

The pair is expected to find support at 1422.20, and a fall through could take it to the next support level of 1399.50. The pair is expected to find its first resistance at 1461.00, and a rise through could take it to the next resistance level of 1477.10.

The yellow metal is trading above its 20 Hr and 50 Hr moving averages.

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