Gold: Yellow metal extends its losses in the Asian session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 1.23% against the USD and closed at USD1315.8 per ounce, amid a broad strength in the greenback.

In the Asian session, at GMT0300, the pair is trading at 1314.2, with the gold trading 0.12% lower from yesterday’s close.

The pair is expected to find support at 1305.27, and a fall through could take it to the next support level of 1296.33. The pair is expected to find its first resistance at 1328.57, and a rise through could take it to the next resistance level of 1342.93.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

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