Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.26% against the USD and closed at USD1296.10 per ounce, amid weakness in US equities.
In the Asian session, at GMT0300, the pair is trading at 1292.50, with gold trading 0.28% lower against the USD from yesterday’s close.
The pair is expected to find support at 1287.43, and a fall through could take it to the next support level of 1282.37. The pair is expected to find its first resistance at 1299.43, and a rise through could take it to the next resistance level of 1306.37.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
