Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.27% against the USD and closed at USD1225.00 per ounce, as the US Dollar surged to its highest level in 14 years against its major peers.
In the Asian session, at GMT0400, the pair is trading at 1226.20, with the gold trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 1220.67, and a fall through could take it to the next support level of 1215.13. The pair is expected to find its first resistance at 1232.07, and a rise through could take it to the next resistance level of 1237.93.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
