Gold Movement
Gold prices traded lower by 0.26% against the USD in the 24 hour period ending 23:00GMT, at 1254.32 per ounce, hurt by a stronger US Dollar.
In the Asian session, at GMT0400, Gold is trading at 1254.05, tad lower from yesterday’s close.
Gold is expected to find support at 1247.04, and a fall through could take it to the next support level of 1240.02. Gold is expected to find its first resistance at 1261.11, and a rise through could take it to the next resistance level of 1268.16.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
