For the 24 hours to 23:00 GMT, Gold rose 1.10% against the USD and closed at USD1604.50 per ounce, amid a drop in global equities and mounting concerns over the coronavirus outbreak.
In the Asian session, at GMT0400, the pair is trading at 1604.70, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1592.33, and a fall through could take it to the next support level of 1579.97. The pair is expected to find its first resistance at 1612.63, and a rise through could take it to the next resistance level of 1620.57.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
