Gold Movement
Gold prices traded higher by 0.89% against the USD in the 24-hour period ending 23:00GMT, at 1279.60 per ounce, supported by a broad weakness in the greenback and a slump in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1273.80, with the gold trading 0.45% lower from yesterday’s close.
The pair is expected to find support at 1269.33, and a fall through could take it to the next support level of 1264.87. The pair is expected to find its first resistance at 1279.53, and a rise through could take it to the next resistance level of 1285.27.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
