Gold: Yellow metal trading higher in the Asian session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 1.31% against the USD and closed at USD1362.90 per ounce, as comments from the US Treasury Secretary led to a decline in the US Dollar, thereby boosting demand for the precious yellow metal.

In the Asian session, at GMT0400, the pair is trading at 1368.10, with gold trading 0.38% higher against the USD from yesterday’s close.

The pair is expected to find support at 1352.33, and a fall through could take it to the next support level of 1336.57. The pair is expected to find its first resistance at 1376.23, and a rise through could take it to the next resistance level of 1384.37.

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

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