Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.66% against the USD and closed at USD1208.10 per ounce, as the US Dollar strengthened after robust US private sector jobs data for February increased the odds of a Fed interest rate hike this month.
In the Asian session, at GMT0400, the pair is trading at 1206.40, with the gold trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 1201.87, and a fall through could take it to the next support level of 1197.33. The pair is expected to find its first resistance at 1214.67, and a rise through could take it to the next resistance level of 1222.93.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
