Gold Movement
Gold prices traded higher by 1.72% against the USD in the 24-hour period ending 23:00GMT, at 1268.20 per ounce, amid a broad weakness in the greenback.
Separately, assets in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.19% to 804.14 tonnes.
In the Asian session, at GMT0300, the pair is trading at 1280.6, with the gold trading 0.98% higher from yesterday’s close.
The pair is expected to find support at 1252.13, and a fall through could take it to the next support level of 1223.67. The pair is expected to find its first resistance at 1296.03, and a rise through could take it to the next resistance level of 1311.47.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
