Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.6% against the USD and closed at USD1286.70, amid strength in the US equity markets.
In the Asian session, at GMT0300, the pair is trading at 1285.30, with the gold trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 1280.63, and a fall through could take it to the next support level of 1275.97. The pair is expected to find its first resistance at 1292.43, and a rise through could take it to the next resistance level of 1299.57.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
