Gold Movement
For the 24 hours to 23:00 GMT, Gold marginally rose against the USD and closed at USD1258.10 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1257.40, with the gold trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 1248.23, and a fall through could take it to the next support level of 1239.07. The pair is expected to find its first resistance at 1263.73, and a rise through could take it to the next resistance level of 1270.07.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
