Gold: Yellow metal trading on a weaker footing in the Asian session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.63% against the USD and closed at USD1220.80 per ounce, amid strength in the US dollar.

In the Asian session, at GMT0400, the pair is trading at 1220.50, with gold trading a tad lower against the USD from yesterday’s close.

The pair is expected to find support at 1214.97, and a fall through could take it to the next support level of 1209.43. The pair is expected to find its first resistance at 1228.87, and a rise through could take it to the next resistance level of 1237.23.

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

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