Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.0% against the USD and closed at USD1258.10 per ounce, after the US Fed quelled hopes of a faster path of rate hikes in 2018.
In the Asian session, at GMT0400, the pair is trading at 1260.30, with gold trading 0.17% higher against the USD from yesterday’s close.
The pair is expected to find support at 1247.87, and a fall through could take it to the next support level of 1235.43. The pair is expected to find its first resistance at 1267.17, and a rise through could take it to the next resistance level of 1274.03.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
