Gold Movement
Gold prices traded higher by 0.32% against the USD in the 24 hour period ending 23:00GMT, at 1167.30 per ounce, as global equity markets stayed muted and investors expressed caution ahead of the Federal Reserve policy statement later today.
In the Asian session, at GMT0400, the pair is trading at 1167.6, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1162.43, and a fall through could take it to the next support level of 1157.27. The pair is expected to find its first resistance at 1170.83, and a rise through could take it to the next resistance level of 1174.07.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
