Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.08% against the USD and closed at USD1240.80 per ounce, amid strength in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1238.60, with the gold trading 0.18% lower against the USD from yesterday’s close, as investors remained anxious ahead of interest rate decisions from two major central banks.
The pair is expected to find support at 1234.63, and a fall through could take it to the next support level of 1230.67. The pair is expected to find its first resistance at 1243.03, and a rise through could take it to the next resistance level of 1247.47.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
