Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.21% against the USD and closed at USD1277.80 per ounce, after a pair of upbeat US economic reports increased the prospects of a Fed interest rate hike next month.
In the Asian session, at GMT0400, the pair is trading at 1278.40, with Gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1273.27, and a fall through could take it to the next support level of 1268.13. The pair is expected to find its first resistance at 1286.77, and a rise through could take it to the next resistance level of 1295.13.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
