Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.07% against the USD and closed at USD1243.00 per ounce, as the US dollar strengthened, amid escalating trade war tensions between the US and China.
In the Asian session, at GMT0300, the pair is trading at 1243.20, with gold trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1238.47, and a fall through could take it to the next support level of 1233.73. The pair is expected to find its first resistance at 1250.87, and a rise through could take it to the next resistance level of 1258.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
