Wed, Jan 20, 2021 @ 22:27 GMT
Home Contributors Fundamental Analysis Gold: Yellow Metal Trading Lower In The Morning Session

Gold: Yellow Metal Trading Lower In The Morning Session

For the 24 hours to 23:00 GMT, Gold declined 5.39% against the USD and closed at USD1928.2 per ounce, as demand for the safe haven asset was dented due to hopes for vaccine against the coronavirus, and amid signs of a decline in number of Covid-19 cases in the US.

In the Asian session, at GMT0300, the pair is trading at 1897.90, with gold trading 1.57% lower against the USD from yesterday’s close.

The pair is expected to find support at 1844.63, and a fall through could take it to the next support level of 1791.37. The pair is expected to find its first resistance at 1991.53, and a rise through could take it to the next resistance level of 2085.17.

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

GCI Financialhttp://www.gcitrading.com/
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.

Featured Analysis

Learn Forex Trading