Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.06% against the USD and closed at USD1277.50 per ounce, amid weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1275.70, with gold trading 0.14% lower against the USD from yesterday’s close.
The pair is expected to find support at 1273.07, and a fall through could take it to the next support level of 1270.43. The pair is expected to find its first resistance at 1278.57, and a rise through could take it to the next resistance level of 1281.43.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
