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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 Sep 20 17 01:48 ET

For the 24 hours to 23:00 GMT, Gold rose 0.18% against the USD and closed at USD1314.40 per ounce, after oscillating between gains and losses.

In the Asian session, at GMT0300, the pair is trading at 1315.80, with the gold trading 0.11% higher against the USD from yesterday’s close, with investors awaiting clues on the US monetary policy outlook.

The pair is expected to find support at 1310.83, and a fall through could take it to the next support level of 1305.87. The pair is expected to find its first resistance at 1318.63, and a rise through could take it to the next resistance level of 1321.47.

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

GCI Financial

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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