Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.23% against the USD and closed at USD1277.20 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1276.80, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1274.23, and a fall through could take it to the next support level of 1271.67. The pair is expected to find its first resistance at 1280.63, and a rise through could take it to the next resistance level of 1284.47.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
