Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.59% against the USD and closed at USD1258.60 per ounce, pressured by strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1257.70, with the gold trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 1241.23, and a fall through could take it to the next support level of 1224.77. The pair is expected to find its first resistance at 1283.33, and a rise through could take it to the next resistance level of 1308.97.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
