Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.04% against the USD and closed at USD1229.40 per ounce, after robust US economic data stoked expectations of a near-term interest rate hike by the US Federal Reserve.
In the Asian session, at GMT0400, the pair is trading at 1225.40, with the gold trading 0.33% lower against the USD from yesterday’s close.
The pair is expected to find support at 1217.07, and a fall through could take it to the next support level of 1208.73. The pair is expected to find its first resistance at 1239.97, and a rise through could take it to the next resistance level of 1254.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
