Gold Movement
Gold prices traded lower by 0.11% against the USD in the 24 hour period ending 23:00GMT, at 1326.14 per ounce.
In the Asian session, at GMT0300, Gold is trading at 1322.26, 0.29% lower from yesterday’s close, after the Federal Reserve yesterday decided to continue with current pace of asset purchase program.
Gold is expected to find support at 1306.69, and a fall through could take it to the next support level of 1291.13. Gold is expected to find its first resistance at 1337.09, and a rise through could take it to the next resistance level of 1351.93.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
