Analysis | Commodity Market Commentaries |
Written by GCI Financial |
Mon Mar 20 17 01:46 ET
For the 24 hours to 23:00 GMT, Gold rose 0.26% against the USD and closed at USD1229.20 per ounce on Friday, extending its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 1233.60, with the gold trading 0.36% higher against the USD from Friday’s close.
The pair is expected to find support at 1227.73, and a fall through could take it to the next support level of 1221.87. The pair is expected to find its first resistance at 1236.93, and a rise through could take it to the next resistance level of 1240.27.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
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