Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.12% against the USD and closed at USD1262.80 per ounce, amid strength in US equities.
In the Asian session, at GMT0300, the pair is trading at 1265.50, with the gold trading 0.21% higher against the USD from yesterday’s close.
The pair is expected to find support at 1262.33, and a fall through could take it to the next support level of 1259.17. The pair is expected to find its first resistance at 1267.63, and a rise through could take it to the next resistance level of 1269.77.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
