Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.42% against the USD and closed at USD1301.70 per ounce, as weakness in greenback increased demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1301.30, with gold trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1294.93, and a fall through could take it to the next support level of 1288.57. The pair is expected to find its first resistance at 1306.23, and a rise through could take it to the next resistance level of 1311.17.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
