Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.18% against the USD and closed at USD1206.70 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1206.2, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1203.50, and a fall through could take it to the next support level of 1200.80. The pair is expected to find its first resistance at 1209.30, and a rise through could take it to the next resistance level of 1212.40.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
