Gold: Yellow metal trading on a stronger footing this morning

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.43% against the USD and closed at USD1320.90 per ounce, as easing concerns over global trade war led to a rally in global equities and dented demand for the precious yellow metal.

In the Asian session, at GMT0400, the pair is trading at 1323.20, with gold trading 0.17% higher against the USD from yesterday’s close.

The pair is expected to find support at 1318.03, and a fall through could take it to the next support level of 1312.87. The pair is expected to find its first resistance at 1328.63, and a rise through could take it to the next resistance level of 1334.07.

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

This entry was posted in Gold. Bookmark the permalink.

Comments are closed.