Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.76% against the USD and closed at USD1234.10 per ounce, amid broad weakness in the greenback and global equities.
In the Asian session, at GMT0300, the pair is trading at 1236.20, with gold trading 0.17% higher against the USD from yesterday’s close.
The pair is expected to find support at 1227.27, and a fall through could take it to the next support level of 1218.33. The pair is expected to find its first resistance at 1244.07, and a rise through could take it to the next resistance level of 1251.93.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
