Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.66% against the USD and closed at USD1287.10 per ounce, amid strength in the US dollar.

In the Asian session, at GMT0400, the pair is trading at 1291.70, with gold trading 0.36% higher against the USD from yesterday’s close.

The pair is expected to find support at 1286.27, and a fall through could take it to the next support level of 1280.83. The pair is expected to find its first resistance at 1297.57, and a rise through could take it to the next resistance level of 1303.43.

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

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