Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.24% against the USD and closed at USD1257.40per ounce, amid weakness in US dollar.
In the Asian session, at GMT0300, the pair is trading at 1257.40, with gold trading flat against the USD from yesterday’s close.
The pair is expected to find support at 1254.27, and a fall through could take it to the next support level of 1251.13. The pair is expected to find its first resistance at 1261.47, and a rise through could take it to the next resistance level of 1265.53.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
