Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.39% against the USD and closed at USD1208.40 per ounce, as a weaker US Dollar boosted the demand appeal for the precious metal.
In the Asian session, at GMT0300, the pair is trading at USD1211.1 per ounce, with gold trading 0.22% higher against the USD from yesterday’s close.
The pair is expected to find support at 1205.70, and a fall through could take it to the next support level of 1200.30. The pair is expected to find its first resistance at 1213.90, and a rise through could take it to the next resistance level of 1216.70.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
