Analysis | Commodity Market Commentaries |
Written by GCI Financial |
Wed Jan 11 17 02:53 ET
For the 24 hours to 23:00 GMT, Gold rose 0.41% against the USD and closed at USD1187.60 per ounce, extending its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 1187.6, with the gold trading flat from yesterday’s close, ahead of a news conference by the US President-elect Donald Trump, due later today.
The pair is expected to find support at 1182.13, and a fall through could take it to the next support level of 1176.67. The pair is expected to find its first resistance at 1191.83, and a rise through could take it to the next resistance level of 1196.07.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
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.