Gold Movement
Gold prices traded marginally lower against the USD in the 24 hour period ending 23:00GMT, at 1071.20 per ounce, as investors brace themselves for a possible US Fed rate hike next week.
In the Asian session, at GMT0400, the pair is trading at 1066.6, with the gold trading 0.43% lower from yesterday’s close.
The pair is expected to find support at 1062.77, and a fall through could take it to the next support level of 1058.93. The pair is expected to find its first resistance at 1072.87, and a rise through could take it to the next resistance level of 1079.13.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
