Gold Movement
Gold prices traded higher by 0.63% against the USD in the 24 hour period ending 23:00GMT, at 1064.00 per ounce.
However the gains in gold prices were capped over prospects of a looming US Federal Reserve interest rate hike this month.
In the Asian session, at GMT0400, the pair is trading at 1071.3, with the gold trading 0.69% higher from yesterday’s close.
The pair is expected to find support at 1058.33, and a fall through could take it to the next support level of 1045.37. The pair is expected to find its first resistance at 1079.13, and a rise through could take it to the next resistance level of 1086.97.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
