Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.15% against the USD and closed at USD1250.50 per ounce, amid weakness in the U dollar.
In the Asian session, at GMT0400, the pair is trading at 1249.50, with gold trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1246.87, and a fall through could take it to the next support level of 1244.23. The pair is expected to find its first resistance at 1252.37, and a rise through could take it to the next resistance level of 1255.23.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
