Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.16% against the USD and closed at USD1246.40 per ounce, reversing its previous session losses.
In the Asian session, at GMT0400, the pair is trading at 1246.10, with gold trading marginally lower against the USD from yesterday’s close, with investors looking forward to the Fed’s interest rate decision, due later today.
The pair is expected to find support at 1240.30, and a fall through could take it to the next support level of 1234.50. The pair is expected to find its first resistance at 1249.90, and a rise through could take it to the next resistance level of 1253.70.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
