For the 24 hours to 23:00 GMT, Gold declined 0.11% against the USD and closed at USD1289.70 per ounce, as strength in the greenback dented demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1288.30, with gold trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 1283.53, and a fall through could take it to the next support level of 1278.77. The pair is expected to find its first resistance at 1293.53, and a rise through could take it to the next resistance level of 1298.77.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.