Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.47% against the USD and closed at USD1276.00 per ounce, as current geopolitical worries increased demand for the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1277.10, with the gold trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1261.33, and a fall through could take it to the next support level of 1245.57. The pair is expected to find its first resistance at 1287.33, and a rise through could take it to the next resistance level of 1297.57.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
