Gold Movement
Gold prices traded higher by 0.10% against the USD in the 24 hour period ending 23:00GMT, at 1311.32 per ounce, as the US Dollar declined following the release of the minutes from the Fed’s March policy meeting, which showed that policymakers were not keen on raising interest rate anytime soon.
In the Asian session, at GMT0300, Gold is trading at 1315.02, 0.28% higher from yesterday’s close.
Gold is expected to find support at 1304.76, and a fall through could take it to the next support level of 1294.50. Gold is expected to find its first resistance at 1321.50, and a rise through could take it to the next resistance level of 1327.98.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
