Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.74% against the USD and closed at USD1242.90 per ounce, as weakness in the US Dollar boosted demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1241.20, with the gold trading 0.14% lower against the USD from yesterday’s close.
The pair is expected to find support at 1235.77, and a fall through could take it to the next support level of 1230.33. The pair is expected to find its first resistance at 1245.37, and a rise through could take it to the next resistance level of 1249.53.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
