Gold Movement
On Friday, Gold prices traded lower by 0.35% against the USD in the period ending 21:00GMT, at 1106.70 per ounce, with investors looking for clarity over the timing of Fed’s decision to increase its benchmark interest rates.
Meanwhile, gold holdings of the SPDR Gold Trust, remained unchanged at 672.18 tons from its previous close.
In the Asian session, at GMT0300, the pair is trading at 1107.90, with the gold trading 0.11% higher from Friday’s close.
The pair is expected to find support at 1099.76, and a fall through could take it to the next support level of 1091.63. The pair is expected to find its first resistance at 1113.96, and a rise through could take it to the next resistance level of 1120.03.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
