Gold Movement
Gold prices traded lower by 0.41% against the USD in the 24 hour period ending 23:00GMT, at 1141.60 per ounce, as the looming interest rate hike by the US Federal Reserve dented the demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1140.1, with the gold trading 0.13% lower from Friday’s close.
The pair is expected to find support at 1132.67, and a fall through could take it to the next support level of 1125.23. The pair is expected to find its first resistance at 1148.67, and a rise through could take it to the next resistance level of 1157.23.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
