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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 Oct 17 17 02:38 ET

For the 24 hours to 23:00 GMT, Gold declined 0.44% against the USD and closed at USD1298.30 per ounce, amid strength in the US Dollar.

In the Asian session, at GMT0300, the pair is trading at 1295.70, with the gold trading 0.2% lower from yesterday’s close.

The pair is expected to find support at 1289.33, and a fall through could take it to the next support level of 1282.97. The pair is expected to find its first resistance at 1305.23, and a rise through could take it to the next resistance level of 1314.77.

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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