Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.52% against the USD and closed at USD1254.30 per ounce, as strength in the greenback dampened demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1254.40, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1250.43, and a fall through could take it to the next support level of 1246.47. The pair is expected to find its first resistance at 1260.13, and a rise through could take it to the next resistance level of 1265.87.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
