Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.09% against the USD and closed at USD1279.00 per ounce, as a decline in global equities and weakness in the US Dollar boosted demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1280.70, with the gold trading 0.13% higher against the USD from yesterday’s close.
The pair is expected to find support at 1274.37, and a fall through could take it to the next support level of 1268.03. The pair is expected to find its first resistance at 1284.67, and a rise through could take it to the next resistance level of 1288.63.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
