Gold Movement
Gold prices traded higher by 0.14% against the USD in the 24 hour period ending 23:00GMT, at 1,548.15 per ounce, as the Federal Reserve showed concerns over the US economic growth, and left its monetary policy unchanged.
In the Asian session at 3:00GMT, gold is trading at USD 1,546.70 per ounce, 0.09% lower from 23:00GMT.
The pair is expected to find its first short term resistance at 1,556.32, with the next resistance at 1,565.95. The pair is expected to find support at 1,539.00 and subsequently at 1,531.31.
The yellow metal is showing convergence with its 50 Hr moving average and is trading just below its 20 Hr moving average.
