Gold Movement
Gold prices traded lower by 0.47% against the USD in the 24-hour period ending 23:00GMT, at 1217.90 per ounce, after the Boston Fed President, Eric Rosengren, indicated that the Fed is likely to hike interest rates earlier than market expectations.
In the Asian session, at GMT0300, the pair is trading at 1227.2, with the gold trading 0.76% higher from yesterday’s close.
The pair is expected to find support at 1219.13, and a fall through could take it to the next support level of 1211.07. The pair is expected to find its first resistance at 1231.83, and a rise through could take it to the next resistance level of 1236.47.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
