Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.20% against the USD and closed at USD1263.40 per ounce, amid weakness in the US dollar and equities.
In the Asian session, at GMT0400, the pair is trading at 1263.40, with gold trading flat against the USD from yesterday’s close.
The pair is expected to find support at 1250.23, and a fall through could take it to the next support level of 1237.07. The pair is expected to find its first resistance at 1273.43, and a rise through could take it to the next resistance level of 1283.47.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
