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Gold: Yellow Metal Trading Lower In The Morning Session Print E-mail
Analysis | Commodity Market Commentaries | Written by GCI Financial | Thu Sep 21 17 01:27 ET

For the 24 hours to 23:00 GMT, Gold declined 0.75% against the USD and closed at USD1304.60 per ounce, as the greenback strengthened after the US Fed left the door open for another interest rate hike in December.

In the Asian session, at GMT0300, the pair is trading at 1302.60, with the gold trading 0.15% lower against the USD from yesterday’s close.

The pair is expected to find support at 1294.47, and a fall through could take it to the next support level of 1286.33. The pair is expected to find its first resistance at 1315.27, and a rise through could take it to the next resistance level of 1327.93.

The yellow metal is trading below 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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