Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.18% against the USD and closed at USD1256.50 per ounce, amid a broad weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1257.30, with the gold trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 1250.70, and a fall through could take it to the next support level of 1244.10. The pair is expected to find its first resistance at 1261.40, and a rise through could take it to the next resistance level of 1265.50.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
