Gold Movement
Gold prices traded marginally higher against the USD in the 24 hour period ending 23:00GMT, at 1070.70 per ounce.
However, gains in gold prices were capped after minutes of the October monetary policy meeting indicated that most of the FOMC officials are open to a December interest rate hike.
In the Asian session, at GMT0400, the pair is trading at 1075.2, with the gold trading 0.42% higher from yesterday’s close.
The pair is expected to find support at 1065.23, and a fall through could take it to the next support level of 1055.27. The pair is expected to find its first resistance at 1081.93, and a rise through could take it to the next resistance level of 1088.67.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
