Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.29% against the USD and closed at USD1234.00 per ounce, amid speculation that the Federal Reserve may show reluctance to hike interest rate further this year.
In the Asian session, at GMT0300, the pair is trading at 1236.80, with the gold trading 0.23% higher against the USD from yesterday’s close.
The pair is expected to find support at 1231.00, and a fall through could take it to the next support level of 1225.20. The pair is expected to find its first resistance at 1240.10, and a rise through could take it to the next resistance level of 1243.40.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
