Gold: Yellow metal trading higher this morning


Gold Movement

Gold prices traded flat against the USD in the 24 hour period ending 23:00GMT, at 1289.10 per ounce, as increased expectations of a sooner-than-expected US interest rate hike curbed the gains arising from looming Ukrainian concerns.

In the Asian session, at GMT0300, Gold is trading at 1291.3, 0.17% higher from yesterday’s close.

Gold is expected to find support at 1284.73, and a fall through could take it to the next support level of 1278.17. Gold is expected to find its first resistance at 1296.43, and a rise through could take it to the next resistance level of 1301.57.

The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.

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