Gold Movement
Gold prices traded higher by 0.12% against the USD in the 24 hour period ending 23:00GMT, at 1215.00 per ounce, amid a broad weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1213.6, with the gold trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1207.1333, and a fall through could take it to the next support level of 1200.6667. The pair is expected to find its first resistance at 1222.0333, and a rise through could take it to the next resistance level of 1230.4667.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
