Gold Movement
For the 24 hours to 23:00 GMT, Gold marginally declined against the USD and closed at USD1243.10 per ounce.
In the Asian session, at GMT0400, the pair is trading at 1245.50, with gold trading 0.19% higher against the USD from yesterday’s close.
The pair is expected to find support at 1240.37, and a fall through could take it to the next support level of 1235.23. The pair is expected to find its first resistance at 1250.27, and a rise through could take it to the next resistance level of 1255.03.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
