Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.37% against the USD and closed at USD1249.10 per ounce, as increased risk appetite among investors boosted the US Dollar and dented demand for the safe-haven metal.
In the Asian session, at GMT0400, the pair is trading at 1251.00, with gold trading 0.15% higher against the USD from yesterday’s close.
The pair is expected to find support at 1242.53, and a fall through could take it to the next support level of 1234.07. The pair is expected to find its first resistance at 1262.73, and a rise through could take it to the next resistance level of 1274.47.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
