For the 24 hours to 23:00 GMT, Gold rose 0.92% against the USD and closed at USD1288.10 per ounce, amid a broad weakness in the greenback, following comments on the US Dollar by the US President, Donald Trump.
In the Asian session, at GMT0300, the pair is trading at 1288.80, with the gold trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1278.37, and a fall through could take it to the next support level of 1267.93. The pair is expected to find its first resistance at 1294.67, and a rise through could take it to the next resistance level of 1300.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.