Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.5% against the USD and closed at USD1256.60 per ounce, amid a broad weakness in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1257.00, with the gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1249.17, and a fall through could take it to the next support level of 1241.33. The pair is expected to find its first resistance at 1262.07, and a rise through could take it to the next resistance level of 1267.13.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
