Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.08% against the USD and closed at USD1267.90 per ounce, extending its previous session losses.
In the Asian session, at GMT0300, the pair is trading at 1268.50, with the gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1264.67, and a fall through could take it to the next support level of 1260.83. The pair is expected to find its first resistance at 1272.37, and a rise through could take it to the next resistance level of 1276.23.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
