For the 24 hours to 23:00 GMT, Gold declined 0.10% against the USD and closed at USD1584.10 per ounce, amid hopes for China’s stimulus efforts to limit the economic impact from the coronavirus outbreak.
In the Asian session, at GMT0400, the pair is trading at 1589.70, with gold trading 0.35% higher against the USD from yesterday’s close.
The pair is expected to find support at 1584.33, and a fall through could take it to the next support level of 1578.97. The pair is expected to find its first resistance at 1592.53, and a rise through could take it to the next resistance level of 1595.37.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
