Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.76% against the USD and closed at USD1245.70 per ounce, amid strength in the greenback following the release of robust US Q4 GDP data.
In the Asian session, at GMT0300, the pair is trading at 1242.60, with the gold trading 0.25% lower against the USD from yesterday’s close.
The pair is expected to find support at 1238.07, and a fall through could take it to the next support level of 1233.53. The pair is expected to find its first resistance at 1250.57, and a rise through could take it to the next resistance level of 1258.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
