Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.83% against the USD and closed at 1208.30, amid a rally in global equity markets and a broad strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1221.7, with the gold trading 1.11% higher from yesterday’s close.
The pair is expected to find support at 1208.33, and a fall through could take it to the next support level of 1194.97. The pair is expected to find its first resistance at 1229.23, and a rise through could take it to the next resistance level of 1236.77.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
