Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.4% against the USD and closed at USD1246.00 per ounce, surrendering its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 1247.50, with the gold trading 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 1240.40, and a fall through could take it to the next support level of 1233.30. The pair is expected to find its first resistance at 1253.90, and a rise through could take it to the next resistance level of 1260.30.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
