Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.49% against the USD and closed at USD1278.20 per ounce, amid increased risk aversion, after Americans unexpectedly elected Donald Trump as their 45th President.
In the Asian session, at GMT0400, the pair is trading at 1286.50, with the gold trading 0.65% higher from yesterday’s close.
The pair is expected to find support at 1258.37, and a fall through could take it to the next support level of 1230.23. The pair is expected to find its first resistance at 1326.47, and a rise through could take it to the next resistance level of 1366.43.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
