For the 24 hours to 23:00 GMT, Gold declined 3.33% against the USD and closed at USD1584.50 per ounce, as strength in the US Dollar and robust Chinese economic data boosted investors’ risk appetite.
In the Asian session, at GMT0300, the pair is trading at 1595.60, with gold trading 0.70% higher against the USD from yesterday’s close.
The pair is expected to find support at 1567.07, and a fall through could take it to the next support level of 1538.53. The pair is expected to find its first resistance at 1633.07, and a rise through could take it to the next resistance level of 1670.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
