Gold: Gold trading higher in the Asian session


Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.62% against the USD and closed at USD1338.30 per ounce, as concerns over a Federal Government shutdown eased after the US President and congressional leaders agreed to extend the debt ceiling for three months.

In the Asian session, at GMT0300, the pair is trading at 1339.10, with the gold trading 0.06% higher against the USD from yesterday’s close.

The pair is expected to find support at 1334.67, and a fall through could take it to the next support level of 1330.23. The pair is expected to find its first resistance at 1345.27, and a rise through could take it to the next resistance level of 1351.43.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

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