Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.1% against the USD and closed at USD1261.70 per ounce, as increased political uncertainty in the US boosted risk aversion among investors.
In the Asian session, at GMT0300, the pair is trading at 1261.40, with the gold trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1257.97, and a fall through could take it to the next support level of 1254.53. The pair is expected to find its first resistance at 1264.97, and a rise through could take it to the next resistance level of 1268.53.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
