Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.23% against the USD and closed at USD1289.60 per ounce, amid weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1286.90, with the gold trading 0.21% lower against the USD from yesterday’s close.
The pair is expected to find support at 1281.00, and a fall through could take it to the next support level of 1275.10. The pair is expected to find its first resistance at 1292.20, and a rise through could take it to the next resistance level of 1297.50.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
