Analysis | Commodity Market Commentaries |
Written by GCI Financial |
Tue Jan 10 17 02:28 ET
For the 24 hours to 23:00 GMT, Gold rose 0.48% against the USD and closed at USD1181.20 per ounce, as weakness in the greenback increased demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1186.20, with the gold trading 0.42% higher from yesterday’s close.
The pair is expected to find support at 1176.97, and a fall through could take it to the next support level of 1167.73. The pair is expected to find its first resistance at 1191.47, and a rise through could take it to the next resistance level of 1196.73.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
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