Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.57% against the USD and closed at USD1217.20 per ounce, as the US Dollar weakened, following the news of a trade deal between the US and Mexico.
In the Asian session, at GMT0300, the pair is trading at 1215.20, with gold trading 0.16% lower against the USD from yesterday’s close.
The pair is expected to find support at 1210.03, and a fall through could take it to the next support level of 1204.87. The pair is expected to find its first resistance at 1219.63, and a rise through could take it to the next resistance level of 1224.07.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
