Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.04% against the USD and closed at USD1258.50 per ounce, amid weakness in the US Dollar.
In the Asian session, at GMT0300, the pair is trading at 1255.00, with gold trading 0.28% lower against the USD from yesterday’s close.
The pair is expected to find support at 1251.13, 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 1259.93, and a rise through could take it to the next resistance level of 1264.87.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
