Gold: Yellow metal trading higher in the Asian session


Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.32% against the USD and closed at USD1330.30 per ounce on Friday, as investors piled into precious yellow metal, after the US jobs report clouded the Fed’s monetary policy outlook.

In the Asian session, at GMT0300, the pair is trading at 1338.00, with the gold trading 0.58% higher against the USD from Friday’s close, as geopolitical tensions escalated after North Korea tested a hydrogen bomb at the weekend.

The pair is expected to find support at 1325.63, and a fall through could take it to the next support level of 1313.27. The pair is expected to find its first resistance at 1346.13, and a rise through could take it to the next resistance level of 1354.27.

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

This entry was posted in Gold. Bookmark the permalink.

Comments are closed.