For the 24 hours to 23:00 GMT, Gold rose 0.06% against the USD and closed at USD1315.40 per ounce, lifted by increased geopolitical concerns after the US President, Donald Trump announced his decision to pull out of the Iran nuclear deal.
In the Asian session, at GMT0300, the pair is trading at 1311.00, with gold trading 0.33% lower against the USD from yesterday’s close.
The pair is expected to find support at 1305.30, and a fall through could take it to the next support level of 1299.60. The pair is expected to find its first resistance at 1317.60, and a rise through could take it to the next resistance level of 1324.20.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
