Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.25% against the USD and closed at USD1277.80 per ounce, amid weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1277.10, with the gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1271.80, and a fall through could take it to the next support level of 1266.50. The pair is expected to find its first resistance at 1283.70, and a rise through could take it to the next resistance level of 1290.30.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
