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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

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