Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.33% against the USD and closed at USD1246.90 per ounce, amid weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1247.20, with gold trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 1243.40, and a fall through could take it to the next support level of 1239.60. The pair is expected to find its first resistance at 1249.90, and a rise through could take it to the next resistance level of 1252.60.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
