Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.06% against the USD and closed at USD1986.10 per ounce, after the Federal Reserve pledged to keep its interest rate near zero until the economy recovers.
In the Asian session, at GMT0300, the pair is trading at 1984.10, with gold trading 0.10% lower against the USD from yesterday’s close.
The pair is expected to find support at 1960.40, and a fall through could take it to the next support level of 1936.70. The pair is expected to find its first resistance at 2003.10, and a rise through could take it to the next resistance level of 2022.10.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
