Gold Movement
Gold prices traded lower by 0.44% against the USD in the 24 hour period ending 23:00GMT, at 1289.10 per ounce on increased expectations that the Fed would start raising its interest rates sooner than expected.
In the Asian session, at GMT0300, Gold is trading at 1289.8, marginally higher from yesterday’s close.
Gold is expected to find support at 1285.73, and a fall through could take it to the next support level of 1281.67. Gold is expected to find its first resistance at 1295.13, and a rise through could take it to the next resistance level of 1300.47.
The yellow metal is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
