Gold: Yellow metal trading on a stronger footing this morning

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.07% against the USD and closed at USD1202.60 per ounce.

In the Asian session, at GMT0400, the pair is trading at 1205.60, with the gold trading 0.25% higher from yesterday’s close.

The pair is expected to find support at 1201.50, and a fall through could take it to the next support level of 1197.40. The pair is expected to find its first resistance at 1209.20, and a rise through could take it to the next resistance level of 1212.80.

The yellow metal is trading above its 20 Hr and 50 Hr moving averages.

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