Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.54% against the USD and closed at USD1322.9 per ounce, as rising hopes of a US rate hike decreased the safe-haven allure of the yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1323.5, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1318.43, and a fall through could take it to the next support level of 1313.37. The pair is expected to find its first resistance at 1329.43, and a rise through could take it to the next resistance level of 1335.37.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
