For the 24 hours to 23:00 GMT, Gold declined 0.32% against the USD and closed at USD1253.40 per ounce, amid strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1253.60, with the gold trading marginally higher from yesterday’s close, with investors awaiting a speech by the US President, Donald Trump, scheduled in the early hours of tomorrow, for more clarity on his economic policies.
The pair is expected to find support at 1248.43, and a fall through could take it to the next support level of 1243.27. The pair is expected to find its first resistance at 1261.83, and a rise through could take it to the next resistance level of 1270.07.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.