Gold: Yellow metal extends its gains in the Asian session


Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.15% against the USD and closed at USD1223.80 per ounce, as investors piled into safe-haven metal after North Korea’s missile test into Japanese waters sparked geopolitical tensions.

In the Asian session, at GMT0300, the pair is trading at 1227.00, with the gold trading 0.26% higher against the USD from yesterday’s close.

The pair is expected to find support at 1222.40, and a fall through could take it to the next support level of 1217.80. The pair is expected to find its first resistance at 1230.00, and a rise through could take it to the next resistance level of 1233.00.

The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

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