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Gold: Yellow Metal Trading On A Weaker Footing This Morning Print E-mail
Analysis | Commodity Market Commentaries | Written by GCI Financial | Tue Sep 12 17 01:43 ET

For the 24 hours to 23:00 GMT, Gold declined 0.62% against the USD and closed at USD1332.60 per ounce, as receding geopolitical concerns surrounding the Korean Peninsula boosted risk appetite among investors.

In the Asian session, at GMT0300, the pair is trading at 1329.90, with the gold trading 0.20% lower against the USD from yesterday’s close.

The pair is expected to find support at 1324.50, and a fall through could take it to the next support level of 1319.10. The pair is expected to find its first resistance at 1339.30, and a rise through could take it to the next resistance level of 1348.70.

The yellow metal is trading below its 20 Hr and 50 Hr moving average.

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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