Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.59% against the USD and closed at USD1313.70 per ounce, amid weakness in the US dollar following Fed’s decision to halt its interest rate hikes until 2020.
In the Asian session, at GMT0400, the pair is trading at 1318.40, with gold trading 0.36% higher against the USD from yesterday’s close.
The pair is expected to find support at 1304.67, and a fall through could take it to the next support level of 1290.93. The pair is expected to find its first resistance at 1325.57, and a rise through could take it to the next resistance level of 1332.73.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
