HomeContributorsFundamental AnalysisGold: Yellow Metal Trading On A Stronger Footing This Morning

Gold: Yellow Metal Trading On A Stronger Footing This Morning

For the 24 hours to 23:00 GMT, Gold rose 0.62% against the USD and closed at USD1348.90 per ounce on Friday, amid a broad weakness in the greenback.

In the Asian session, at GMT0300, the pair is trading at 1350.00, with gold trading 0.08% higher against the USD from Friday’s close, after the US, Britain and France launched missile strikes on Syria.

The pair is expected to find support at 1339.87, and a fall through could take it to the next support level of 1329.73. The pair is expected to find its first resistance at 1355.77, and a rise through could take it to the next resistance level of 1361.53.

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

GCI Financial
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DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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