Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.14% against the USD and closed at USD1212.00 per ounce, amid gains in US equities and strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1213.30, with the gold trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1206.23, and a fall through could take it to the next support level of 1199.17. The pair is expected to find its first resistance at 1219.73, and a rise through could take it to the next resistance level of 1226.17.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
