Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.11% against the USD and closed at USD1297.10 per ounce.

In the Asian session, at GMT0300, the pair is trading at 1294.30, with gold trading 0.22% lower against the USD from yesterday’s close.

The pair is expected to find support at 1286.57, and a fall through could take it to the next support level of 1278.83. The pair is expected to find its first resistance at 1300.37, and a rise through could take it to the next resistance level of 1306.43.

The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.

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