Gold Movement
Gold prices traded 1.48% higher against the USD in the 24-hour period ending 23:00GMT, at USD 1265.00 per ounce, reversing its previous session losses, amid a broad weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1265.00, with the gold trading flat from yesterday’s close.
The pair is expected to find support at 1253.13, and a fall through could take it to the next support level of 1241.27. The pair is expected to find its first resistance at 1272.93, and a rise through could take it to the next resistance level of 1280.87.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
