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Gold: Yellow Metal Trading Marginally Lower In The Asian Session Print E-mail
Analysis | Commodity Market Commentaries | Written by GCI Financial | Thu Aug 10 17 02:55 ET

For the 24 hours to 23:00 GMT, Gold rose 1.22% against the USD and closed at USD1282.80 per ounce, as mounting tensions between North Korea and the US continued to rattle investor sentiment and boosted demand for safe-haven metal.

In the Asian session, at GMT0300, the pair is trading at 1282.70, with the gold trading a tad lower against the USD from yesterday’s close.

The pair is expected to find support at 1273.50, and a fall through could take it to the next support level of 1264.30. The pair is expected to find its first resistance at 1288.30, and a rise through could take it to the next resistance level of 1293.90.

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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