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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 Aug 09 17 02:29 ET

For the 24 hours to 23:00 GMT, Gold rose 0.25% against the USD and closed at USD1266.50 per ounce, as investors piled into safe-have metal following fresh geopolitical tensions arising from the Korean Peninsula.

In the Asian session, at GMT0300, the pair is trading at 1270.5, with the gold trading 0.32% higher against the USD from yesterday’s close.

The pair is expected to find support at 1260.73, and a fall through could take it to the next support level of 1250.97. The pair is expected to find its first resistance at 1276.6 3, and a rise through could take it to the next resistance level of 1282.77.

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

GCI Financial

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