Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.13% against the USD and closed at USD1299.90 per ounce, amid strength global equities.
In the Asian session, at GMT0300, the pair is trading at 1301.10, with gold trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1297.17, and a fall through could take it to the next support level of 1293.23. The pair is expected to find its first resistance at 1305.57, and a rise through could take it to the next resistance level of 1310.03.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
