Gold Movement
Gold prices traded higher by 0.41% against the USD in the 24 hour period ending 23:00GMT, at 1312.80 per ounce after tensions escalated between Moscow and other developed countries because of the sanction wars. However, the gains were capped as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week.
In the Asian session, at GMT0300, Gold is trading at 1317.2, 0.34% higher from yesterday’s close, as US President’s confirmation of air strikes in northern Iraq heightened geopolitical tensions.
Gold is expected to find support at 1307.33, and a fall through could take it to the next support level of 1297.47. Gold is expected to find its first resistance at 1322.73, and a rise through could take it to the next resistance level of 1328.27.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
