Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.62% against the USD and closed at USD1243.10 per ounce, as political risks in Europe and economic uncertainty in the US stoked demand for the safe haven metal.
In the Asian session, at GMT0400, the pair is trading at 1243.70, with the gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1235.13, and a fall through could take it to the next support level of 1226.57. The pair is expected to find its first resistance at 1249.43, and a rise through could take it to the next resistance level of 1255.17.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
