Gold Movement
For the 24 hours to 23:00 GMT, Gold rose slightly against the USD and closed at USD1261.20 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1259.70, with the gold trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1255.80, and a fall through could take it to the next support level of 1251.90. The pair is expected to find its first resistance at 1265.20, and a rise through could take it to the next resistance level of 1270.70.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
