For the 24 hours to 23:00 GMT, Gold rose 0.17% against the USD and closed at USD1202.80 per ounce, amid weakness in US equities.
In the Asian session, at GMT0400, the pair is trading at 1204.30, with gold trading 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 1198.77, and a fall through could take it to the next support level of 1193.23. The pair is expected to find its first resistance at 1207.67, and a rise through could take it to the next resistance level of 1211.03.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
