Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.41% against the USD and closed at USD1249.80 per ounce, amid broad strength in the US dollar and US equities.
In the Asian session, at GMT0400, the pair is trading at 1251.00, with gold trading 0.10% higher against the USD from yesterday’s close.
The pair is expected to find support at 1246.73, and a fall through could take it to the next support level of 1242.47. The pair is expected to find its first resistance at 1255.43, and a rise through could take it to the next resistance level of 1259.87.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
