Gold Movement
Gold prices traded higher by 0.20% against the USD in the 24 hour period ending 23:00GMT, at 1283.80 per ounce, after Ukraine accused Russia of launching a new military incursion across its Eastern border, thus increasing the metal’s safe haven appeal.
In the Asian session, at GMT0300, the pair is trading at 103.77, with the USD trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 103.61, and a fall through could take it to the next support level of 103.46. The pair is expected to find its first resistance at 104.01, and a rise through could take it to the next resistance level of 104.25.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
