Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.0% against the USD and closed at USD1237.30 per ounce, as weakness in global equities increased demand for the safe haven yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1234.00, with the gold trading 0.27% lower from yesterday’s close.
The pair is expected to find support at 1225.70, and a fall through could take it to the next support level of 1217.40. The pair is expected to find its first resistance at 1239.90, and a rise through could take it to the next resistance level of 1245.80.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
