Gold Movement
Gold prices traded lower by 2.24% against the USD in the 24 hour period ending 23:00GMT, at 1,628.78 per ounce, as the dollar surged after the US Federal Reserve meeting offered no new stimulus.
In the Asian session, at GMT0400, Gold is trading at 1639.60, 0.66% higher from yesterday’s close.
Gold is expected to find support at 1615.50, and a fall through could take it to the next support level of 1591.41. Gold is expected to find its first resistance at 1670.84, and a rise through could take it to the next resistance level of 1702.09.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
