Gold Movement
For the 24 hours to 23:00 GMT, Gold slightly rose against the USD and closed at USD1257.40 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1257.20, with the gold trading marginally lower from yesterday’s close.
The pair is expected to find support at 1253.77, and a fall through could take it to the next support level of 1250.33. The pair is expected to find its first resistance at 1259.47, and a rise through could take it to the next resistance level of 1261.73.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
