Gold Movement
Gold prices traded 1.69% higher against the USD in the 24-hour period ending 23:00GMT, at USD1353.00 per ounce, as the greenback tumbled across the board after disappointing US services sector data made it unlikely for the US Federal Reserve to raise interest rates at its September policy meeting.
In the Asian session, at GMT0300, the pair is trading at 1354.60, with the gold trading 0.12% higher from yesterday’s close, extending its previous session gains.
The pair is expected to find support at 1336.53, and a fall through could take it to the next support level of 1318.47. The pair is expected to find its first resistance at 1364.93, and a rise through could take it to the next resistance level of 1375.27.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
