Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.74% against the USD and closed at USD1291.70 per ounce, amid weakness in the greenback and political tensions in Spain.
In the Asian session, at GMT0300, the pair is trading at 1285.40, with the gold trading 0.49% lower against the USD from yesterday’s close.
The pair is expected to find support at 1277.70, and a fall through could take it to the next support level of 1270.00. The pair is expected to find its first resistance at 1293.00, and a rise through could take it to the next resistance level of 1300.60.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
