Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.78% against the USD and closed at 1241.70, amid a broad weakness in the greenback coupled with a better-than-expected US non-farm private employment data.
In the Asian session, at GMT0400, the pair is trading at 1239.10, with the gold trading 0.21% lower from yesterday’s close.
The pair is expected to find support at 1228.53, and a fall through could take it to the next support level of 1217.97. The pair is expected to find its first resistance at 1247.23, and a rise through could take it to the next resistance level of 1255.37.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
