Gold Movement
Gold prices traded higher by 0.46% against the USD in the 24 hour period ending 23:00GMT, at 1278.18 per ounce, as investors favoured the safe-haven commodity, amid concerns over the US budget talks ahead of its looming Thursday deadline.
In the Asian session, at GMT0300, Gold is trading at 1279.34, 0.09% higher from yesterday’s close.
Gold is expected to find support at 1258.05, and a fall through could take it to the next support level of 1236.77. Gold is expected to find its first resistance at 1294.41, and a rise through could take it to the next resistance level of 1309.49.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
