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Gold Trading Higher Amid Strong Demand For Safe Haven Assets

March 3, 2014

Singapore (Mar 3) In the Asian session, at GMT0400, Gold is trading at 1342.59, 1.28% higher from Friday’s close, as demand for safe-haven assets increased after tension in Ukraine escalated following Russia’s seizure of Crimea.

Gold is expected to find support at 1326.28, and a fall through could take it to the next support level of 1309.97. Gold is expected to find its first resistance at 1351.88, and a rise through could take it to the next resistance level of 1361.17.

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

Source: OilNGold

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