Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.60% against the USD and closed at USD1199.00 per ounce, after the Federal Reserve hiked its key interest rates.
In the Asian session, at GMT0300, the pair is trading at 1201.30, with gold trading 0.19% higher against the USD from yesterday’s close.
The pair is expected to find support at 1194.97, and a fall through could take it to the next support level of 1188.63. The pair is expected to find its first resistance at 1207.27, and a rise through could take it to the next resistance level of 1213.23.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
