Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.51% against the USD and closed at 1266.50, as a weaker greenback and increased hopes of the Fed staying pat on interest rate next week, provided support to the non-interest bearing precious metal.
In the Asian session, at GMT0400, the pair is trading at 1268.70, with the gold trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 1260.50, and a fall through could take it to the next support level of 1252.30. The pair is expected to find its first resistance at 1275.50, and a rise through could take it to the next resistance level of 1282.30.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
