Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.11% against the USD and closed at USD1318.20 per ounce, rising for the first time in four sessions. Meanwhile, investors remain cautious ahead of the much awaited Federal Reserve policy meeting, scheduled later in the day.
In the Asian session, at GMT0300, the pair is trading at 1318.70, with the gold trading a tad higher from yesterday’s close.
The pair is expected to find support at 1315.57, and a fall through could take it to the next support level of 1312.43. The pair is expected to find its first resistance at 1321.47, and a rise through could take it to the next resistance level of 1324.23.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
