Gold Movement
For the 24 hours to 23:00 GMT, Gold remained unchanged at USD1284.70 per ounce.
In the Asian session, at GMT0400, the pair is trading at 1284.65, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1280.73, and a fall through could take it to the next support level of 1276.82. The pair is expected to find its first resistance at 1287.53, and a rise through could take it to the next resistance level of 1290.42.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
