Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.11% against the USD and closed at 1227.00, reversing its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 1234.6, with the gold trading 0.62% higher from yesterday’s close.
The pair is expected to find support at 1219.50, and a fall through could take it to the next support level of 1204.40. The pair is expected to find its first resistance at 1252.00, and a rise through could take it to the next resistance level of 1269.40.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
