Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.28% against the USD and closed at USD1224.70 per ounce, as the US dollar strengthened after the US Federal Reserve held its benchmark interest rate steady.
In the Asian session, at GMT0400, the pair is trading at 1220.10, with gold trading 0.38% lower against the USD from yesterday’s close.
The pair is expected to find support at 1216.90, and a fall through could take it to the next support level of 1213.70. The pair is expected to find its first resistance at 1225.90, and a rise through could take it to the next resistance level of 1231.70.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
