Oil N' Gold - Resources for Serious Traders
Energy and Precious Metals Commentaries
Yellow Metal Reverses Its Losses In The Asian Session Print E-mail
Analysis | Commodity Market Commentaries | Written by GCI Financial | Tue Feb 13 18 02:55 ET

For the 24 hours to 23:00 GMT, Gold declined 0.08% against the USD and closed at USD1325.10 per ounce, amid a broad rally in global equity markets.

In the Asian session, at GMT0400, the pair is trading at 1326.30, with gold trading 0.09% higher against the USD from yesterday’s close.

The pair is expected to find support at 1320.30, and a fall through could take it to the next support level of 1314.30. The pair is expected to find its first resistance at 1330.30, and a rise through could take it to the next resistance level of 1334.30.

The yellow metal is showing convergence with its 20 Hr moving average and trading above its 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.

 

Latest Analysis from this Author