Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.29% against the USD and closed at USD1225.20 per ounce, as strength in the US dollar dampened the demand appeal of the dollar denominated commodity.
In the Asian session, at GMT0300, the pair is trading at 1226.30, with gold trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1222.37, and a fall through could take it to the next support level of 1218.43. The pair is expected to find its first resistance at 1231.57, and a rise through could take it to the next resistance level of 1236.83.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
