For the 24 hours to 23:00 GMT, Gold rose 1.01% against the USD and closed at USD1282.80 per ounce, amid a weaker greenback and as geopolitical concerns in Saudi Arabia fuelled demand for the safe-haven asset.
In the Asian session, at GMT0400, the pair is trading at USD1280.60 per ounce, with Gold trading 0.17% lower from yesterday’s close.
The pair is expected to find support at 1271.10, and a fall through could take it to the next support level of 1261.60. The pair is expected to find its first resistance at 1287.00, and a rise through could take it to the next resistance level of 1293.40.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.