For the 24 hours to 23:00 GMT, Gold rose 0.54% against the USD and closed at USD1197.40 per ounce, as a weaker greenback boosted the demand appeal for the dollar denominated commodity.
In the Asian session, at GMT0300, the pair is trading at 1200.8, with gold trading 0.28% higher against the USD from yesterday’s close, as the US President Donald Trump criticised the US central bank on raising interest rates.
The pair is expected to find support at 1194.07, and a fall through could take it to the next support level of 1187.33. The pair is expected to find its first resistance at 1204.37, and a rise through could take it to the next resistance level of 1207.93.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
