Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.11% against the USD and closed at USD1220.10 per ounce.

In the Asian session, at GMT0300, the pair is trading at 1219.90, with gold trading slightly lower against the USD from yesterday’s close.

The pair is expected to find support at 1217.00, and a fall through could take it to the next support level of 1214.10. The pair is expected to find its first resistance at 1224.20, and a rise through could take it to the next resistance level of 1228.50.

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

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