Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.92% against the USD and closed at USD1200.80 per ounce, amid broad strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1205.00, with gold trading 0.35% higher against the USD from yesterday’s close.
The pair is expected to find support at 1199.73, and a fall through could take it to the next support level of 1194.47. The pair is expected to find its first resistance at 1211.13, and a rise through could take it to the next resistance level of 1217.27.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
