Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.16% against the USD and closed at USD1278.50 per ounce, as weakness in global equities and continuous uncertainty over US tax reforms increased demand of the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1276.30, with the gold trading 0.17% lower against the USD from yesterday’s close.
The pair is expected to find support at 1274.57, and a fall through could take it to the next support level of 1272.83. The pair is expected to find its first resistance at 1278.97, and a rise through could take it to the next resistance level of 1281.63.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
