Gold Movement
Gold prices traded higher by 0.62% against the USD in the 24 hour period ending 23:00GMT, at 1259.60 per ounce, as a weakness in the US equity markets bolstered the safe-haven appeal of the metal.
In the Asian session, at GMT0300, Gold is trading at 1262.10, 0.20% higher from yesterday’s close.
Gold is expected to find support at 1255.07, and a fall through could take it to the next support level of 1248.03. Gold is expected to find its first resistance at 1266.47, and a rise through could take it to the next resistance level of 1270.83.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
