Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.42% against the USD and closed at USD1310.80 per ounce, as the greenback strengthened amid expectations of a Fed interest rate hike.
In the Asian session, at GMT0400, the pair is trading at 1313.90, with gold trading 0.24% higher against the USD from yesterday’s close.
The pair is expected to find support at 1308.10, and a fall through could take it to the next support level of 1302.30. The pair is expected to find its first resistance at 1318.20, and a rise through could take it to the next resistance level of 1322.50.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
