Gold: Yellow metal trading on a stronger footing this morning


Gold Movement

For the 24 hours to 23:00 GMT, Gold rose 0.08% against the USD and closed at USD1197.40 per ounce, amid increased risk aversion among investors, after the US President, Donald Trump’s decision to ban immigration sparked a fresh wave of political uncertainty.

In the Asian session, at GMT0400, the pair is trading at 1203.20, with the gold trading 0.48% higher from yesterday’s close.

The pair is expected to find support at 1194.20, and a fall through could take it to the next support level of 1185.20. The pair is expected to find its first resistance at 1208.00, and a rise through could take it to the next resistance level of 1212.80.

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.