Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.16% against the USD and closed at USD1234.70 per ounce, amid broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1234.90, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1229.60, and a fall through could take it to the next support level of 1224.30. The pair is expected to find its first resistance at 1241.10, and a rise through could take it to the next resistance level of 1247.30.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
