Gold edges lower in early Asian trade on a likely technical correction after front-month gold futures closed 2.5% higher on Monday. However, support has been found at the 20-day simple moving average, and the precious metal’s momentum has realigned with the well-established bullish trend on the daily chart, says Matt Simpson, market analyst at FOREX.com and City Index, in an email. Market participants will probably now monitor whether gold’s latest rally can extend beyond short-covering and stabilize above key support and resistance levels, Simpson adds. Spot gold is 0.1% lower at $3,333.67/oz. (Newsmaker23)
Sumber: Dow Jones Newswires
