For the 24 hours to 23:00 GMT, Gold declined 0.37% against the USD and closed at USD1277.40 per ounce, amid broad strength in the US dollar.
In the Asian session, at GMT0300, the pair is trading at 1277.00, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1270.90, and a fall through could take it to the next support level of 1264.80. The pair is expected to find its first resistance at 1284.80, and a rise through could take it to the next resistance level of 1292.60.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
