Gold Movement
On Friday Gold prices traded lower by 0.38% against the USD in the period ending 21:00GMT, at 1325.60 per ounce, as risk-appetite among traders increased following upbeat Reuters/Michigan US consumer sentiment and Chicago PMI data.
In the Asian session, at GMT0400, Gold is trading at 1342.59, 1.28% higher from Friday’s close, as demand for safe-haven assets increased after tension in Ukraine escalated following Russia’s seizure of Crimea.
Gold is expected to find support at 1326.28, and a fall through could take it to the next support level of 1309.97. Gold is expected to find its first resistance at 1351.88, and a rise through could take it to the next resistance level of 1361.17.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
