Gold Movement
Gold prices traded higher by 0.63% against the USD in the 24 hour period ending 23:00GMT, at 1222.80 per ounce, as geopolitical tensions resurfaced amid reports of fresh airstrikes led by the US in Syria, thereby raising yellow metal’s allure as a safe-haven.
In the Asian session, at GMT0300, the pair is trading at 1222.9, with the gold trading tad higher from yesterday’s close.
The pair is expected to find support at 1213.6, and a fall through could take it to the next support level of 1204.3. The pair is expected to find its first resistance at 1234.6, and a rise through could take it to the next resistance level of 1246.3.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
