Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 3.39% against the USD and closed at USD1270.10 per ounce, declining for a sixth straight day, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1274.90, with the gold trading 0.38% higher from yesterday’s close.
The pair is expected to find support at 1257.50, and a fall through could take it to the next support level of 1240.10. The pair is expected to find its first resistance at 1303.40, and a rise through could take it to the next resistance level of 1331.90.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
