Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.17% against the USD and closed at USD1276.70 per ounce, as better-than-expected economic data from China eased concerns over global growth.

In the Asian session, at GMT0300, the pair is trading at 1274.20, with gold trading 0.20% lower against the USD from yesterday’s close.

The pair is expected to find support at 1271.23, and a fall through could take it to the next support level of 1268.27. The pair is expected to find its first resistance at 1279.63, and a rise through could take it to the next resistance level of 1285.07.

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

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