Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.12% against the USD and closed at USD1203.50 per ounce, amid weakness in US equities.
In the Asian session, at GMT0300, the pair is trading at 1203.00, with gold trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1198.17, and a fall through could take it to the next support level of 1193.33. The pair is expected to find its first resistance at 1209.27, and a rise through could take it to the next resistance level of 1215.53.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
