For the 24 hours to 23:00 GMT, Gold rose 0.74% against the USD and closed at USD1748.30 per ounce, amid fears of prolonged global recession and massive stimulus measures from central banks.
In the Asian session, at GMT0300, the pair is trading at 1753.50, with gold trading 0.30% higher against the USD from yesterday’s close.
The pair is expected to find support at 1735.10, and a fall through could take it to the next support level of 1716.70. The pair is expected to find its first resistance at 1764.00, and a rise through could take it to the next resistance level of 1774.50.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
