Gold Movement
Gold prices traded lower by 0.42% against the USD in the 24 hour period ending 23:00GMT, at 1083.00 per ounce, over expectations of a December interest rate hike by the US Federal Reserve.
In the Asian session, at GMT0400, the pair is trading at 1080.8, with the gold trading 0.2% lower from yesterday’s close.
The pair is expected to find support at 1075.07, and a fall through could take it to the next support level of 1069.33. The pair is expected to find its first resistance at 1091.97, and a rise through could take it to the next resistance level of 1103.13.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
