Gold Movement
Gold prices traded lower by 0.50% against the USD in the 24-hour period ending 23:00GMT, at 1245.60 per ounce, reversing its previous session gains, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1252.2, with the gold trading 0.53% higher from yesterday’s close.
The pair is expected to find support at 1244.77, and a fall through could take it to the next support level of 1237.33. The pair is expected to find its first resistance at 1258.87, and a rise through could take it to the next resistance level of 1265.53.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
