Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.44% against the USD and closed at USD1296.20 per ounce, amid broad weakness in the greenback.

In the Asian session, at GMT0400, the pair is trading at 1297.30, with gold trading 0.08% higher against the USD from yesterday’s close.

The pair is expected to find support at 1289.00, and a fall through could take it to the next support level of 1280.70. The pair is expected to find its first resistance at 1303.00, and a rise through could take it to the next resistance level of 1308.70.

The yellow metal is trading above its 20 Hr and 50 Hr moving averages.

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