Gold Movement
Gold prices traded higher by 1.01% against the USD in the 24 hour period ending 23:00GMT, at 1252.94 per ounce, on bargain hunting following recent decline in prices.
In the Asian session, at GMT0300, Gold is trading at 1258.59, 0.45% higher from yesterday’s close.
Gold is expected to find support at 1240.83, and a fall through could take it to the next support level of 1223.07. Gold is expected to find its first resistance at 1269.30 and a rise through could take it to the next resistance level of 1280.01.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
