Gold Movement
Gold prices traded lower by 0.13% against the USD in the 24 hour period ending 23:00GMT, at 1709.32 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1710.45, a marginal 0.07% higher from yesterday’s close, ahead of the end of the two day Federal Reserve meeting later today.
Gold is expected to find support at 1705.41, and a fall through could take it to the next support level of 1700.37. Gold is expected to find its first resistance at 1715, and a rise through could take it to the next resistance level of 1719.54.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
