Gold Movement

For the 24 hours to 23:00 GMT, Gold marginally declined against the USD and closed at USD1243.10 per ounce.

In the Asian session, at GMT0400, the pair is trading at 1245.50, with gold trading 0.19% higher against the USD from yesterday’s close.

The pair is expected to find support at 1240.37, and a fall through could take it to the next support level of 1235.23. The pair is expected to find its first resistance at 1250.27, and a rise through could take it to the next resistance level of 1255.03.

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

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