Gold Movement
For the 24 hours to 23:00 GMT, the yellow metal rose 0.61% against the USD and closed at USD1265.10 per ounce, buoyed by weakness in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1264.90, with gold trading a tad lower from yesterday’s close.
The pair is expected to find support at 1259.06, and a fall through could take it to the next support level of 1253.23. The pair is expected to find its first resistance at 1268.86, and a rise through could take it to the next resistance level of 1272.83.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
