Gold Movement
Gold prices traded higher by 0.93% against the USD in the 24 hour period ending 23:00GMT, at 1293.90 per ounce, on the back of a weaker greenback due to an unexpected decline in the US durable goods orders.
In the Asian session, at GMT0400, the pair is trading at 1289.20, with the gold trading 0.36% lower from yesterday’s close, ahead of the Fed’s monetary policy meet,
The pair is expected to find support at 1278.53, and a fall through could take it to the next support level of 1267.86. The pair is expected to find its first resistance at 1299.23, and a rise through could take it to the next resistance level of 1309.26.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
