Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.43% against the USD and closed at USD1296.60 per ounce, amid a broad weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1293.80, with the gold trading 0.22% lower against the USD from yesterday’s close.
The pair is expected to find support at 1289.23, and a fall through could take it to the next support level of 1284.67. The pair is expected to find its first resistance at 1299.03, and a rise through could take it to the next resistance level of 1304.27.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
