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Yellow Metal Extends Its Gains In The Asian Session Print E-mail
Analysis | Commodity Market Commentaries | Written by GCI Financial | Wed Mar 07 18 03:19 ET

For the 24 hours to 23:00 GMT, Gold rose 0.98% against the USD and closed at USD1335.70 per ounce, as concerns surrounding a potential trade war led to a broad weakness in the US Dollar and boosted demand for the precious yellow metal.

In the Asian session, at GMT0400, the pair is trading at USD1336.60 per ounce, with gold trading 0.07% higher against the USD from yesterday’s close.

The pair is expected to find support at 1324.67, and a fall through could take it to the next support level of 1312.73. The pair is expected to find its first resistance at 1345.27, and a rise through could take it to the next resistance level of 1353.93.

The yellow metal is trading above its 20 Hr and 50 Hr moving averages.

GCI Financial

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