Gold: Yellow metal reverses its losses in the Asian session

Gold

Gold Movement

Gold prices traded lower by 0.14% against the USD in the 24 hour period ending 23:00GMT, at 1255.60 per ounce, extending its previous session losses.

In the Asian session, at GMT0300, the pair is trading at 1256.3, with the gold trading 0.06% higher from yesterday’s close.

The pair is expected to find support at 1250.0667, and a fall through could take it to the next support level of 1243.8333. The pair is expected to find its first resistance at 1260.5667, and a rise through could take it to the next resistance level of 1264.8333.

The yellow metal is trading between its 20 Hr and 50 Hr moving averages.

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