Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.14% against the USD and closed at USD1251.90 per ounce, reversing its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 1251.60, with the gold trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1247.40, and a fall through could take it to the next support level of 1243.20. The pair is expected to find its first resistance at 1255.90, and a rise through could take it to the next resistance level of 1260.20.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
