Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.12% against the USD and closed at USD1258.30 per ounce, extending its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 1256.80, with the gold trading 0.12% lower against the USD from yesterday’s close, amid mounting concerns ahead of a contentious meeting between the US President, Donald Trump and Chinese President, Xi Jinping.
The pair is expected to find support at 1253.30, and a fall through could take it to the next support level of 1249.80. The pair is expected to find its first resistance at 1262.00, and a rise through could take it to the next resistance level of 1267.20.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
