Gold Movement
On Friday Gold prices traded lower by 0.10% against the USD in the period ending 21:00GMT, at 1333.30 per ounce, ahead of the US FOMC meeting scheduled later this week.
In the Asian session, at GMT0300, Gold is trading at 1329.05, 0.32% lower from Friday’s close.
Gold is expected to find support at 1314.03, and a fall through could take it to the next support level of 1299.02. Gold is expected to find its first resistance at 1342.63, and a rise through could take it to the next resistance level of 1356.22.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
