Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.37% against the USD and closed at USD1249.30 per ounce, amid strength in the US equities.
In the Asian session, at GMT0300, the pair is trading at 1249.60, with gold trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1245.73, and a fall through could take it to the next support level of 1241.87. The pair is expected to find its first resistance at 1254.63, and a rise through could take it to the next resistance level of 1259.67.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
