Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.25% against the USD and closed at USD1208.10 per ounce, as risk appetite improved among investors.
In the Asian session, at GMT0300, the pair is trading at 1211.00, with gold trading 0.24% higher against the USD from yesterday’s close.
The pair is expected to find support at 1198.30, and a fall through could take it to the next support level of 1185.60. The pair is expected to find its first resistance at 1218.00, and a rise through could take it to the next resistance level of 1225.00.
The yellow metal is trading above its 20 Hr and 50 Hr moving averagess.
