Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.75% against the USD and closed at USD1346.60 per ounce, amid expectations of an interest rate cut by the US Federal Reserve.
In the Asian session, at GMT0300, the pair is trading at 1351.30, with gold trading 0.35% higher against the USD from yesterday’s close.
The pair is expected to find support at 1341.83, and a fall through could take it to the next support level of 1332.37. The pair is expected to find its first resistance at 1356.23, and a rise through could take it to the next resistance level of 1361.17.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
