Gold Movement
Gold prices traded lower by 0.11% against the USD in the 24 hour period ending 23:00GMT, at 1326.22 per ounce, amid strength in the greenback, ahead of Federal Reserve’s monetary policy announcement tomorrow.
In the Asian session, at GMT0300, Gold is trading at 1328.65, 0.18% higher from yesterday’s close.
Gold is expected to find support at 1321.67, and a fall through could take it to the next support level of 1314.68. Gold is expected to find its first resistance at 1337.02, and a rise through could take it to the next resistance level of 1345.38.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
