Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.1% against the USD and closed at USD1250.00 per ounce, reversing its previous session losses.
In the Asian session, at GMT0400, the pair is trading at 1247.20, with the gold trading 0.22% lower against the USD from yesterday’s close.
The pair is expected to find support at 1239.13, and a fall through could take it to the next support level of 1231.07. The pair is expected to find its first resistance at 1253.33, and a rise through could take it to the next resistance level of 1259.47.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
