Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.30% against the USD and closed at USD1299.40 per ounce, as strength in the US dollar dented demand for the safe haven asset.
In the Asian session, at GMT0300, the pair is trading at 1299.00, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1295.53, and a fall through could take it to the next support level of 1292.07. The pair is expected to find its first resistance at 1303.23, and a rise through could take it to the next resistance level of 1307.47.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
