Gold: Yellow metal extends its gains in the morning session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.17% against the USD and closed at USD1205.70 per ounce.

In the Asian session, at GMT0300, the pair is trading at 1205.90, with gold trading slightly higher against the USD from yesterday’s close.

The pair is expected to find support at 1202.17, and a fall through could take it to the next support level of 1198.43. The pair is expected to find its first resistance at 1208.77, and a rise through could take it to the next resistance level of 1211.63.

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

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