Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.69% against the USD and closed at USD1232.80 per ounce, as strength in the US dollar, dented demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1233.00, with gold trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 1228.37, and a fall through could take it to the next support level of 1223.73. The pair is expected to find its first resistance at 1240.17, and a rise through could take it to the next resistance level of 1247.33.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
