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Gold: Yellow Metal Trading Higher In The Asian Session Print E-mail
Analysis | Commodity Market Commentaries | Written by GCI Financial | Mon Jul 17 17 01:02 ET

For the 24 hours to 23:00 GMT, Gold rose 0.95% against the USD and closed at USD1228.30 per ounce on Friday, amid a broad weakness in the greenback following a batch of lacklustre economic data in the US.

In the Asian session, at GMT0300, the pair is trading at 1229.70, with the gold trading 0.11% higher against the USD from Friday’s close.

The pair is expected to find support at 1218.57, and a fall through could take it to the next support level of 1207.43. The pair is expected to find its first resistance at 1236.77, and a rise through could take it to the next resistance level of 1243.83.

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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