Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.22% against the USD and closed at USD1276.20 per ounce, amid strength in the US Dollar and a rally in global equities.
In the Asian session, at GMT0400, the pair is trading at 1279.80, with gold trading 0.28% higher against the USD from yesterday’s close.
The pair is expected to find support at 1271.37, and a fall through could take it to the next support level of 1262.93. The pair is expected to find its first resistance at 1290.97, and a rise through could take it to the next resistance level of 1302.13.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
