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Gold: Yellow Metal Extends Its Losses In The Asian Session

For the 24 hours to 23:00 GMT, Gold declined 0.56% against the USD and closed at USD1224.40 per ounce, amid strength in the greenback.

In the Asian session, at GMT0400, the pair is trading at 1218.10, with gold trading 0.51% lower against the USD from yesterday’s close.

The pair is expected to find support at 1212.90, and a fall through could take it to the next support level of 1207.70. The pair is expected to find its first resistance at 1226.90, and a rise through could take it to the next resistance level of 1235.70.

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

GCI Financial
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