Gold Movement
Gold prices traded lower by 0.12% against the USD in the 24 hour period ending 23:00GMT, at 1154.30 per ounce, as the Fed gears up to meet and decide whether to raise interest rate in the US sooner or not.
In the Asian session, at GMT0400, the pair is trading at 1154.60, with the gold trading a tad higher from yesterday’s close.
The pair is expected to find support at 1148.16, and a fall through could take it to the next support level of 1141.73. The pair is expected to find its first resistance at 1162.16, and a rise through could take it to the next resistance level of 1169.73.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
