Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.08% against the USD and closed at USD1197.40 per ounce, amid increased risk aversion among investors, after the US President, Donald Trump’s decision to ban immigration sparked a fresh wave of political uncertainty.
In the Asian session, at GMT0400, the pair is trading at 1203.20, with the gold trading 0.48% higher from yesterday’s close.
The pair is expected to find support at 1194.20, and a fall through could take it to the next support level of 1185.20. The pair is expected to find its first resistance at 1208.00, and a rise through could take it to the next resistance level of 1212.80.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
