Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.36% against the USD and closed at USD1227.10 per ounce, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1228.40, with the gold trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1223.97, and a fall through could take it to the next support level of 1219.53. The pair is expected to find its first resistance at 1234.87, and a rise through could take it to the next resistance level of 1241.33.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
