Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.05% against the USD and closed at USD1325.70 per ounce, following the US Federal Reserve’s decision to pause interest rate hikes in future.
In the Asian session, at GMT0400, the pair is trading at 1323.50, with gold trading 0.17% lower against the USD from yesterday’s close.
The pair is expected to find support at 1320.10, and a fall through could take it to the next support level of 1316.70. The pair is expected to find its first resistance at 1329.00, and a rise through could take it to the next resistance level of 1334.50.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
