Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.26% against the USD and closed at USD1508.10 per ounce, ahead of the Jackson Hole summit on future US interest rate cuts.
In the Asian session, at GMT0300, the pair is trading at 1504.9, with gold trading 0.21% lower against the USD from yesterday’s close.
The pair is expected to find support at 1499.87, and a fall through could take it to the next support level of 1494.83. The pair is expected to find its first resistance at 1512.17, and a rise through could take it to the next resistance level of 1519.43.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
