Gold Movement
On Friday Gold prices traded higher by 0.64% against the USD in the period ending 21:00GMT, at 1382.23 per ounce, as lingering tensions in Ukraine and a weaker US Dollar bolstered the demand prospect of the safe-haven metal.
In the Asian session, at GMT0400, Gold is trading at 1383.73, 0.11% higher from Friday’s close, following Crimea’s vote on Sunday to leave Ukraine and join Russia.
Gold is expected to find support at 1370.37, and a fall through could take it to the next support level of 1357.02. Gold is expected to find its first resistance at 1394.65, and a rise through could take it to the next resistance level of 1405.58.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
