Gold Movement
Gold prices traded lower by 0.31% against the USD in the 24-hour period ending 23:00GMT, at 1283.60 per ounce, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1283.50, with the gold trading marginally lower from yesterday’s close.
The pair is expected to find support at 1274.13, and a fall through could take it to the next support level of 1264.77. The pair is expected to find its first resistance at 1292.33, and a rise through could take it to the next resistance level of 1301.17.
The yellow metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
