Gold Movement
Gold prices traded lower by 0.53% against the USD in the 24 hour period ending 23:00GMT, at 1667.45 per ounce, amid profit booking.
In the Asian session, at GMT0400, Gold is trading at 1665.20, 0.08% lower from yesterday’s close, as investors awaited the outcome of the US Federal Reserve’s policy meeting.
Gold is expected to find support at 1658.67, and a fall through could take it to the next support level of 1652.02. Gold is expected to find its first resistance at 1674.93, and a rise through could take it to the next resistance level of 1684.55.
The yellow metal is trading just below its 20 Hr and its 50 Hr moving averages.
