Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.55% against the USD and closed at USD1217.50 per ounce, amid increased risk aversion.
In the Asian session, at GMT0400, the pair is trading at 1214, with the gold trading 0.29% lower from yesterday’s close.
The pair is expected to find support at 1208.63, and a fall through could take it to the next support level of 1203.27. The pair is expected to find its first resistance at 1223.43, and a rise through could take it to the next resistance level of 1232.87.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
