Gold: Yellow metal extends its gains in the Asian session


Gold Movement

For the 24 hours to 23:00 GMT, the Gold rose 0.47% against the USD and closed at USD1260.1, supported by a weaker US Dollar.

In the Asian session, at GMT0300, the pair is trading at 1261.7, with the Gold trading 0.13% higher from yesterday’s close, following news of a blast at a concert in Manchester that left at least 19 people dead, with the police treating the incident as a terrorist attack.

The pair is expected to find support at 1254.2667, and a fall through could take it to the next support level of 1246.8333. The pair is expected to find its first resistance at 1266.4667, and a rise through could take it to the next resistance level of 1271.2333.

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

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