Gold Movement
Gold prices traded lower by 0.93% against the USD in the 24 hour period ending 23:00GMT, at 1257.30 per ounce, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1256.30, with the gold trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 1248.06, and a fall through could take it to the next support level of 1239.83. The pair is expected to find its first resistance at 1268.56, and a rise through could take it to the next resistance level of 1280.83.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
