Gold Movement
Gold prices traded lower by 1.73% against the USD in the 24 hour period ending 23:00GMT, at 1344.95 per ounce, as the greenback strengthened after the Federal Reserve signalled a scale back of its bond buying program later this year, as risks to the nation remain subdued.
In the Asian session, at GMT0300, Gold is trading at 1347.46, 0.19% higher from yesterday’s close.
Gold is expected to find support at 1332.52, and a fall through could take it to the next support level of 1317.59. Gold is expected to find its first resistance at 1369.42, and a rise through could take it to the next resistance level of 1391.39.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
