Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.11% against the USD and closed at USD1278.60 per ounce, extending its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 1277.90, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1274.10, and a fall through could take it to the next support level of 1270.30. The pair is expected to find its first resistance at 1281.10, and a rise through could take it to the next resistance level of 1284.30.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
