Gold Movement
Gold prices traded higher by 0.82% against the USD in the 24 hour period ending 23:00GMT, at 1073.00 per ounce, as mounting geopolitical tensions in the Middle East coupled with plunging global equity markets lured investors to the safe-haven appeal of the yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1076.3, with the gold trading 0.31% higher from yesterday’s close.
The pair is expected to find support at 1065.00, and a fall through could take it to the next support level of 1053.70. The pair is expected to find its first resistance at 1085.30, and a rise through could take it to the next resistance level of 1094.30.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
