Gold Movement
On Friday Gold prices traded higher by 0.89% against the USD in the period ending 20:00GMT, at 1303.20 per ounce, as escalating concerns over Ukraine crisis and a broad decline in the US equity markets bolstered the safe-haven appeal of the metal.
In the Asian session, at GMT0300, Gold is trading at 1304.35, 0.09% higher from Friday’s close.
Gold is expected to find support at 1294.29, and a fall through could take it to the next support level of 1284.23. Gold is expected to find its first resistance at 1310.59, and a rise through could take it to the next resistance level of 1316.83.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
