Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.13% against the USD and closed at USD1286.50 per ounce, as global growth worries increase demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1290.10, with gold trading 0.28% higher against the USD from yesterday’s close.
The pair is expected to find support at 1283.00, and a fall through could take it to the next support level of 1275.90. The pair is expected to find its first resistance at 1294.80, and a rise through could take it to the next resistance level of 1299.50.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
