Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.86% against the USD and closed at USD1268.40 per ounce, amid strength in the US Dollar.
In the Asian session, at GMT0400, the pair is trading at 1268.70, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1261.47, and a fall through could take it to the next support level of 1254.23. The pair is expected to find its first resistance at 1277.67, and a rise through could take it to the next resistance level of 1286.63.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
