Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.9% against the USD and closed at USD1356.40 per ounce, as concerns over escalating tensions in Syria as well as conflicts between US and Russia increased the demand for the safe haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1353.70, with gold trading 0.2% lower against the USD from yesterday’s close.
The pair is expected to find support at 1341.67, and a fall through could take it to the next support level of 1329.63. The pair is expected to find its first resistance at 1367.57, and a rise through could take it to the next resistance level of 1381.43.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
