Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.43% against the USD and closed at USD1202.60 per ounce, as weakness in the US dollar boosted demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1204.90, with gold trading 0.19% higher against the USD from yesterday’s close.
The pair is expected to find support at 1199.53, and a fall through could take it to the next support level of 1194.17. The pair is expected to find its first resistance at 1207.93, and a rise through could take it to the next resistance level of 1210.97.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
