Gold: Yellow metal trading on a weaker footing this morning

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold slightly rose against the USD and closed at USD1275.00 per ounce.

In the Asian session, at GMT0300, the pair is trading at 1272.70, with the gold trading 0.18% lower against the USD from yesterday’s close.

The pair is expected to find support at 1267.30, and a fall through could take it to the next support level of 1261.90. The pair is expected to find its first resistance at 1279.20, and a rise through could take it to the next resistance level of 1285.70.

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

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