Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.27% against the USD and closed at USD1213.30 per ounce, reversing its previous session losses.
In the Asian session, at GMT0300, the pair is trading at 1211.10, with the gold trading 0.18% lower against the USD from yesterday’s close.
The pair is expected to find support at 1204.87, and a fall through could take it to the next support level of 1198.63. The pair is expected to find its first resistance at 1216.47, and a rise through could take it to the next resistance level of 1221.83.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
