For the 24 hours to 23:00 GMT, Gold declined 0.19% against the USD and closed at USD1240.80 per ounce, as expectations of higher interest rates in the US weighed on the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1240.50, with gold trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1236.67, and a fall through could take it to the next support level of 1232.83. The pair is expected to find its first resistance at 1245.07, and a rise through could take it to the next resistance level of 1249.63.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
