Gold Movement
Gold prices traded higher by 0.79% against the USD in the 24 hour period ending 23:00GMT, at 1211.30 per ounce, ahead of the Fed’s announcement on its latest monetary policy.
In the Asian session, at GMT0300, the pair is trading at 1210.30, with the gold trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 1201.10, and a fall through could take it to the next support level of 1191.90. The pair is expected to find its first resistance at 1217.20, and a rise through could take it to the next resistance level of 1224.10.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
