Gold Movement
Gold prices traded 4.74% higher against the USD in the 24-hour period ending 23:00GMT, at USD1321.30 per ounce, ending a four-day losing streak and surging to a two-year high level, as investors scurried towards the safe-haven asset following Britain’s vote to leave the European Union.
In the Asian session, at GMT0300, the pair is trading at 1329.90, with the gold trading 0.65% higher from Friday’s close.
The pair is expected to find support at 1283.60, and a fall through could take it to the next support level of 1237.30. The pair is expected to find its first resistance at 1369.40, and a rise through could take it to the next resistance level of 1408.90.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
