Gold Movement
Gold prices rose marginally against the USD in the 24 hour period ending 23:00GMT, at $1238.39 per ounce, on prospects of upbeat physical demand from Asia.
In the Asian session, at GMT0400, Gold is trading at 1240.97, 0.21% higher from yesterday’s close.
Gold is expected to find support at 1219.83, and a fall through could take it to the next support level of 1198.69. Gold is expected to find its first resistance at 1255.31, and a rise through could take it to the next resistance level of 1269.65.
The yellow metal is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
