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Gold: Yellow Metal Extends Its Gains In The Asian Session Print E-mail
Analysis | Commodity Market Commentaries | Written by GCI Financial | Wed May 17 17 02:34 ET

For the 24 hours to 23:00 GMT, Gold rose 0.49% against the USD and closed at USD1236.80 per ounce, amid weakness in the greenback in the wake of reports that the US President, Donald Trump, shared classified information with top Russian officials at a meeting last week.

In the Asian session, at GMT0300, the pair is trading at 1243.70, with the gold trading 0.56% higher from yesterday’s close.

The pair is expected to find support at 1235.87, and a fall through could take it to the next support level of 1228.03. The pair is expected to find its first resistance at 1248.27, and a rise through could take it to the next resistance level of 1252.83.

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

GCI Financial

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