Gold Movement
For the 24 hours to 23:00 GMT, Gold slightly declined against the USD and closed at USD1295.30 per ounce.
In the Asian session, at GMT0400, the pair is trading at 1295.50, with gold trading marginally higher against the USD from yesterday’s close, amid weakness in the greenback.
The pair is expected to find support at 1291.73, and a fall through could take it to the next support level of 1287.97. The pair is expected to find its first resistance at 1298.43, and a rise through could take it to the next resistance level of 1301.37.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
