Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.82% against the USD and closed at USD1244.50 per ounce, amid a broad weakness in global equity markets and weakness in the US Dollar.
In the Asian session, at GMT0400, the pair is trading at 1245.30, with the gold trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 1232.03, and a fall through could take it to the next support level of 1218.77. The pair is expected to find its first resistance at 1253.13, and a rise through could take it to the next resistance level of 1260.97.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
