Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.66% against the USD and closed at 1232.10, after upbeat US economic data helped fuel a rally in global equity markets and dented the demand for the safe-haven yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1228.3, with the gold trading 0.31% lower from yesterday’s close.
The pair is expected to find support at 1219.33, and a fall through could take it to the next support level of 1210.37. The pair is expected to find its first resistance at 1243.00, and a rise through could take it to the next resistance level of 1257.77.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
