Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.18% against the USD and closed at USD1256.60 per ounce, as strength in US dollar, dented demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1251.70, with gold trading 0.39% lower against the USD from yesterday’s close.
The pair is expected to find support at 1246.03, and a fall through could take it to the next support level of 1240.37. The pair is expected to find its first resistance at 1259.03, and a rise through could take it to the next resistance level of 1266.37.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
