Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.43% against the USD and closed at USD1278.10 per ounce, amid weakness in the greenback.

In the Asian session, at GMT0400, the pair is trading at 1280.30, with gold trading 0.17% higher against the USD from yesterday’s close.

The pair is expected to find support at 1272.40, and a fall through could take it to the next support level of 1264.50. The pair is expected to find its first resistance at 1284.90, and a rise through could take it to the next resistance level of 1289.50.

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

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