Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.73% against the USD and closed at USD1212.00 per ounce, as the US dollar dropped on hopes of renewed trade talks between the US and China.
In the Asian session, at GMT0300, the pair is trading at 1210.00, with gold trading 0.17% lower against the USD from yesterday’s close.
The pair is expected to find support at 1200.43, and a fall through could take it to the next support level of 1190.87. The pair is expected to find its first resistance at 1216.73, and a rise through could take it to the next resistance level of 1223.47.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
