Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.49% against the USD and closed at USD1230.80 per ounce, amid broad weakness in US dollar and US equities.
In the Asian session, at GMT0300, the pair is trading at 1229.70, with gold trading 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 1223.63, and a fall through could take it to the next support level of 1217.57. The pair is expected to find its first resistance at 1236.33, and a rise through could take it to the next resistance level of 1242.97.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
