Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.20% against the USD and closed at USD1228.40 per ounce, as a decline in US equities boosted the demand appeal of the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1230.60, with gold trading 0.18% higher against the USD from yesterday’s close.
The pair is expected to find support at 1223.67, and a fall through could take it to the next support level of 1216.73. The pair is expected to find its first resistance at 1235.57, and a rise through could take it to the next resistance level of 1240.53.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
