Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.09% against the USD and closed at USD1427.60 per ounce, after the Federal Reserve’s in its monetary policy meeting decided to trim its interest rate.
In the Asian session, at GMT0300, the pair is trading at 1421.60, with gold trading 0.42% lower against the USD from yesterday’s close.
The pair is expected to find support at 1409.13, and a fall through could take it to the next support level of 1396.67. The pair is expected to find its first resistance at 1440.93, and a rise through could take it to the next resistance level of 1460.27.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
