Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.27% against the USD and closed at USD1302.90 per ounce, amid broad weakness in the greenback and a slump in global financial markets.
In the Asian session, at GMT0400, the pair is trading at 1300.30, with the gold trading 0.2% lower from yesterday’s close.
The pair is expected to find support at 1288.33, and a fall through could take it to the next support level of 1276.37. The pair is expected to find its first resistance at 1310.13, and a rise through could take it to the next resistance level of 1319.97.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
