Gold Movement
Gold prices traded lower by 0.30% against the USD in the 24 hour period ending 23:00GMT, at 1104.20 per ounce, as the Fed kept the door open to a rate hike in December.
In the Asian session, at GMT0400, the pair is trading at 1107, with the gold trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 1102.37, and a fall through could take it to the next support level of 1097.73. The pair is expected to find its first resistance at 1111.47, and a rise through could take it to the next resistance level of 1115.93.
The yellow metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
