Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.69% against the USD and closed at USD1295.00 per ounce, as prospects of another Fed interest rate hike this year continued to dent demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1301.10, with the gold trading 0.47% higher against the USD from yesterday’s close.
The pair is expected to find support at 1293.63, and a fall through could take it to the next support level of 1286.17. The pair is expected to find its first resistance at 1306.13, and a rise through could take it to the next resistance level of 1311.17.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
