Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.22% against the USD and closed at USD1253.60 per ounce, as the US Dollar strengthened following better-than-expected US economic data.
In the Asian session, at GMT0300, the pair is trading at 1251.20, with the gold trading 0.19% lower against the USD from yesterday’s close.
The pair is expected to find support at 1247.00, and a fall through could take it to the next support level of 1242.80. The pair is expected to find its first resistance at 1258.40, and a rise through could take it to the next resistance level of 1265.60.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
