Gold Movement
Gold prices traded higher by 0.47% against the USD in the 24 hour period ending 23:00GMT, at 1711.63 per ounce, ahead of the Federal Reserve two-day meeting where policy makers are expected to announce more stimulus measures.
In the Asian session, at GMT0400, Gold is trading at 1709.66, 0.11% lower from yesterday’s close.
Gold is expected to find support at 1704.23, and a fall through could take it to the next support level of 1698.79. Gold is expected to find its first resistance at 1716.27, and a rise through could take it to the next resistance level of 1722.88.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
