Gold Movement
Gold prices traded lower by 0.25% against the USD in the 24-hour period ending 23:00GMT, at 1257.80 per ounce, extending its previous session losses, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1256.10, with the gold trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 1247.07, and a fall through could take it to the next support level of 1238.03. The pair is expected to find its first resistance at 1262.67, and a rise through could take it to the next resistance level of 1269.23.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
