Gold Movement
Gold prices traded lower by 0.09% against the USD in the 24-hour period ending 23:00GMT, at USD 1246.50 per ounce, after two consecutive sessions of gains, as a broad rally in global equity markets dampened the safe-haven appeal of the yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1250.20, with the gold trading 0.3% higher from yesterday’s close.
The pair is expected to find support at 1241.17, and a fall through could take it to the next support level of 1232.13. The pair is expected to find its first resistance at 1254.97, and a rise through could take it to the next resistance level of 1259.73.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
