Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.31% against the USD and closed at USD1265.50 per ounce, amid strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1266.40, with the gold trading 0.07% higher against the USD from yesterday’s close.
The pair is expected to find support at 1262.47, and a fall through could take it to the next support level of 1258.53. The pair is expected to find its first resistance at 1269.67, and a rise through could take it to the next resistance level of 1272.93.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
