Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.43% against the USD and closed at 1240.30, as concerns about global growth momentum spurred demand for the safe-haven yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1244.50, with the gold trading 0.34% higher from yesterday’s close.
The pair is expected to find support at 1229.10, and a fall through could take it to the next support level of 1213.70. The pair is expected to find its first resistance at 1254.60, and a rise through could take it to the next resistance level of 1264.70.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
