Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.47% against the USD and closed at USD1251.20 per ounce, as risk aversion increased on uncertainty over the economic policies of US President, Donald Trump.
In the Asian session, at GMT0400, the pair is trading at 1249.20, with the gold trading 0.16% lower against the USD from yesterday’s close.
The pair is expected to find support at 1244.33, and a fall through could take it to the next support level of 1239.47. The pair is expected to find its first resistance at 1254.33, 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 above its 50 Hr moving average.
