Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.1% against the USD and closed at USD1297.60 per ounce, amid strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1299.30, with gold trading 0.13% higher against the USD from yesterday’s close.
The pair is expected to find support at 1295.43, and a fall through could take it to the next support level of 1291.57. The pair is expected to find its first resistance at 1302.23, and a rise through could take it to the next resistance level of 1305.17.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
