Gold Movement
For the 24 hours to 23:00 GMT, the Gold declined 0.43% against the USD and closed at USD1218.90 per ounce, amid strength in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1220.70, with the gold trading 0.15% higher from yesterday’s close.
The pair is expected to find support at 1216.47, and a fall through could take it to the next support level of 1212.23. The pair is expected to find its first resistance at 1225.37, and a rise through could take it to the next resistance level of 1230.03.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
