For the 24 hours to 23:00 GMT, Gold marginally declined against the USD and closed at USD1274.20 per ounce, as strength in global equities dented demand for the safe haven commodity.
In the Asian session, at GMT0300, the pair is trading at 1277.90, with the gold trading 0.29% higher against the USD from yesterday’s close.
The pair is expected to find support at 1273.07, and a fall through could take it to the next support level of 1268.23. The pair is expected to find its first resistance at 1280.77, and a rise through could take it to the next resistance level of 1283.63.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.