Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.06% against the USD and closed at USD1234.40 per ounce, as the release of positive US jobless claims data intensified expectations for a March interest rate hike by the Fed.
In the Asian session, at GMT0400, the pair is trading at 1233.70, with the gold trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 1227.33, and a fall through could take it to the next support level of 1220.97. The pair is expected to find its first resistance at 1243.83, and a rise through could take it to the next resistance level of 1253.97.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
