For the 24 hours to 23:00 GMT, Gold declined 0.78% against the USD and closed at USD1191.60 per ounce, as strength in the US dollar, lowered demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1193.40, with gold trading 0.15% higher against the USD from yesterday’s close.
The pair is expected to find support at 1185.87, and a fall through could take it to the next support level of 1178.33. The pair is expected to find its first resistance at 1201.07, and a rise through could take it to the next resistance level of 1208.73.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
