Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.41% against the USD and closed at USD1278.30 per ounce, as a rally in US equities dented demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1275.70, with the gold trading 0.20% lower against the USD from yesterday’s close.
The pair is expected to find support at 1272.10, and a fall through could take it to the next support level of 1268.50. The pair is expected to find its first resistance at 1282.00, and a rise through could take it to the next resistance level of 1288.30.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
