For the 24 hours to 23:00 GMT, Gold declined 0.13% against the USD and closed at USD1578.70 per ounce yesterday. However, losses were limited amid persistent concerns over coronavirus and its global economic impact.
In the Asian session, at GMT0400, the pair is trading at 1576.70, with gold trading 0.13% lower against the USD from yesterday’s close.
The pair is expected to find support at 1570.90, and a fall through could take it to the next support level of 1565.10. The pair is expected to find its first resistance at 1586.60, and a rise through could take it to the next resistance level of 1596.50.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
