Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.62% against the USD and closed at USD1243.90 per ounce.
In the Asian session, at GMT0400, the pair is trading at 1240.60, with gold trading 0.27% lower against the USD from yesterday’s close.
The pair is expected to find support at 1237.77, and a fall through could take it to the next support level of 1234.93. The pair is expected to find its first resistance at 1245.47, and a rise through could take it to the next resistance level of 1250.33.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
