Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.67% against the USD and closed at USD1266.70 per ounce, as robust economic data in the US increased prospects for a Fed interest rate hike.
In the Asian session, at GMT0300, the pair is trading at 1266.80, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1262.30, and a fall through could take it to the next support level of 1257.80. The pair is expected to find its first resistance at 1274.10, and a rise through could take it to the next resistance level of 1281.40.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
