Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.02% against the USD and closed at USD1264.80 per ounce, amid a rally in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1265.60, with the gold trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 1259.83, and a fall through could take it to the next support level of 1254.07. The pair is expected to find its first resistance at 1273.83, and a rise through could take it to the next resistance level of 1282.07.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
