Gold Movement
For the 24 hours to 23:00 GMT, the Gold rose 1.05% against the USD and closed at 1120.9, with investors shifting to safe-haven amid worries about Fed’s decision regarding interest rate hike, scheduled later today.
In the Asian session, at GMT0400, the pair is trading at 1122, with the gold trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 1113.60, and a fall through could take it to the next support level of 1105.20. The pair is expected to find its first resistance at 1127, and a rise through could take it to the next resistance level of 1132.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
