Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.44% against the USD and closed at USD1346.2 per ounce, after the US Fed hinted that the benchmark interest rates would be raised in September this year. However, the central bank kept its key interest rate unchanged in its latest monetary policy meeting.
In the Asian session, at GMT0300, the pair is trading at 1344.8, with the gold trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 1329.07, and a fall through could take it to the next support level of 1313.33. The pair is expected to find its first resistance at 1355.27, and a rise through could take it to the next resistance level of 1365.73.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
