Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.55% against the USD and closed at USD1271.70 per ounce, amid broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1272.20, with gold trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1267.63, and a fall through could take it to the next support level of 1263.07. The pair is expected to find its first resistance at 1276.43, and a rise through could take it to the next resistance level of 1280.67.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
