For the 24 hours to 23:00 GMT, Gold rose 1.22% against the USD and closed at USD1282.80 per ounce, as mounting tensions between North Korea and the US continued to rattle investor sentiment and boosted demand for safe-haven metal.
In the Asian session, at GMT0300, the pair is trading at 1282.70, with the gold trading a tad lower against the USD from yesterday’s close.
The pair is expected to find support at 1273.50, and a fall through could take it to the next support level of 1264.30. The pair is expected to find its first resistance at 1288.30, and a rise through could take it to the next resistance level of 1293.90.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.