Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.66% against the USD and closed at USD1259.90 per ounce, amid strength in greenback and prospects of rising US interest rates.
In the Asian session, at GMT0300, the pair is trading at 1256.40, with gold trading 0.28% lower against the USD from yesterday’s close.
The pair is expected to find support at 1251.83, and a fall through could take it to the next support level of 1247.27. The pair is expected to find its first resistance at 1264.53, and a rise through could take it to the next resistance level of 1272.67.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
