Gold: Yellow metal trading between its MA’s in the Asian session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.22% against the USD and closed at USD1256.80 per ounce, surrendering its previous session gains.

In the Asian session, at GMT0300, the pair is trading at 1256.90, with the gold trading a tad higher against the USD from yesterday’s close.

The pair is expected to find support at 1253.47, and a fall through could take it to the next support level of 1250.03. The pair is expected to find its first resistance at 1262.27, and a rise through could take it to the next resistance level of 1267.63.

The yellow metal is trading between its 20 Hr and 50 Hr moving averages.

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