Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.24% against the USD and closed at USD1269.40 per ounce, as weaker-than-expected US durable goods orders raised some uncertainty over the possibility for a Fed interest rate hike before the end of the year.
In the Asian session, at GMT0300, the pair is trading at 1271.60, with the gold trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 1267.30, and a fall through could take it to the next support level of 1263.00. The pair is expected to find its first resistance at 1274.80, and a rise through could take it to the next resistance level of 1278.00.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
