Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.5% against the USD and closed at USD1271.00, per ounce, as softer economic data in the US spurred demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1272.00, with the gold trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1263.73, and a fall through could take it to the next support level of 1255.47. The pair is expected to find its first resistance at 1278.53, and a rise through could take it to the next resistance level of 1285.07.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
