Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.13% against the USD and closed at USD1265.50 per ounce, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1265.60, with the gold trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 1260.17, and a fall through could take it to the next support level of 1254.73. The pair is expected to find its first resistance at 1271.17, and a rise through could take it to the next resistance level of 1276.73.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
