Gold Movement
Gold prices traded higher by 0.42% against the USD in the 24-hour period ending 23:00GMT, at 1244.30 per ounce, amid a broad weakness in the greenback following the release of downbeat US economic data.
In the Asian session, at GMT0300, the pair is trading at 1245.8, with the gold trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 1236.20, and a fall through could take it to the next support level of 1226.60. The pair is expected to find its first resistance at 1251.90, and a rise through could take it to the next resistance level of 1258.00.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
