Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.4% against the USD and closed at USD1256.00 per ounce, amid strength in global equity markets.
In the Asian session, at GMT0300, the pair is trading at 1253.80, with the gold trading 0.18% lower against the USD from yesterday’s close, with investors looking forward to the outcome of the Fed’s interest rate decision and to get hints on the central bank’s monetary policy outlook.
The pair is expected to find support at 1249.53, and a fall through could take it to the next support level of 1245.2667. The pair is expected to find its first resistance at 1261.13, and a rise through could take it to the next resistance level of 1268.47.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
