Gold Movement
Gold prices traded higher by 1.80% against the USD in the 24 hour period ending 23:00GMT, at 1262.29 per ounce, amid broad weakness in the US Dollar.
In the Asian session, at GMT0400, Gold is trading at 1256.73, 0.44% lower from yesterday’s close.
Gold is expected to find support at 1240.77, and a fall through could take it to the next support level of 1224.80. Gold is expected to find its first resistance at 1270.35, and a rise through could take it to the next resistance level of 1283.96.
The yellow metal is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
