Gold Movement
Gold prices traded higher by 0.97% against the USD in the 24 hour period ending 23:00GMT, at 1255.54 per ounce.
In the Asian session, at GMT0300, Gold is trading at 1254.50, marginally lower from yesterday’s close.
Gold is expected to find support at 1240.86, and a fall through could take it to the next support level of 1227.22. Gold is expected to find its first resistance at 1264.17, and a rise through could take it to the next resistance level of 1273.84.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
