Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.07% against the USD and closed at USD1217.10 per ounce, as strength in global equities dampened demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1215.80, with the gold trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 1212.00, and a fall through could take it to the next support level of 1208.20. The pair is expected to find its first resistance at 1221.60, and a rise through could take it to the next resistance level of 1227.40.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
