Gold Movement
Gold prices traded lower by 1.17% against the USD in the 24-hour period ending 23:00GMT, at 1236.50 per ounce, amid a broad strength in the greenback, while markets prepared for the Fed’s interest rate annoucement.
In the Asian session, at GMT0400, the pair is trading at 1230.2, with the gold trading 0.51% lower from yesterday’s close.
The pair is expected to find support at 1216.83, and a fall through could take it to the next support level of 1203.47. The pair is expected to find its first resistance at 1252.73, and a rise through could take it to the next resistance level of 1275.27.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
