Gold Movement
Gold prices traded 1.59% lower against the USD in the 24-hour period ending 23:00GMT, at USD1271.20 per ounce, extending its previous session losses, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1272, with the gold trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1262.03, and a fall through could take it to the next support level of 1252.07. The pair is expected to find its first resistance at 1287.03, and a rise through could take it to the next resistance level of 1302.07.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
