Gold Movement
Gold prices traded higher by 0.12% against the USD in the 24 hour period ending 23:00GMT, at 1095.10 per ounce, ahead of the conclusion of the FOMC meeting at which the Fed policymakers are expected to give further clues about an interest rate increase in the US.
Separately, gold holdings in the SPDR Gold Trust remained unchanged at 680.15 tons, from its previous level of 684.63 tons.
In the Asian session, at GMT0300, the pair is trading at 1097.20, with the gold trading 0.19% higher from yesterday’s close.
The pair is expected to find support at 1092.63, and a fall through could take it to the next support level of 1088.06. The pair is expected to find its first resistance at 1100.23, and a rise through could take it to the next resistance level of 1103.26.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
