Gold: Yellow metal extended its gains in the Asian session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.4% against the USD and closed at USD1164.20 per ounce, amid a broad weakness in the greenback.

In the Asian session, at GMT0400, the pair is trading at 1173.90, with the gold trading 0.83% higher from yesterday’s close.

The pair is expected to find support at 1164.07, and a fall through could take it to the next support level of 1154.23. The pair is expected to find its first resistance at 1179.27, and a rise through could take it to the next resistance level of 1184.63.

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

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