Gold Movement
Gold prices traded higher by 0.54%against the USD in the 24 hour period ending 23:00GMT, at 1290.70 per ounce as tensions intensified between Ukraine and Russia, offsetting upbeat US economic data.
In the Asian session, at GMT0300, Gold is trading at 1290.4, tad lower from yesterday’s close.
Gold is expected to find support at 1285.27, and a fall through could take it to the next support level of 1280.13. Gold is expected to find its first resistance at 1296.57, and a rise through could take it to the next resistance level of 1302.73.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
