Gold Movement
For the 24 hours to 23:00 GMT, Gold is trading flat against the USD and closed at USD1233.70 per ounce.
In the Asian session, at GMT0300, the pair is trading at 1234.00, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1227.80, and a fall through could take it to the next support level of 1221.60. The pair is expected to find its first resistance at 1239.40, and a rise through could take it to the next resistance level of 1244.80.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
