Gold Movement
Gold prices traded higher by 0.17% against the USD in the 24 hour period ending 23:00GMT, at 1235.50 per ounce, amid subdued trading ahead of the FOMC meeting.
In the Asian session, at GMT0300, the pair is trading at 1237.5, with the gold trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 1232.0667, and a fall through could take it to the next support level of 1226.6333. The pair is expected to find its first resistance at 1243.0667, and a rise through could take it to the next resistance level of 1248.6333.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
