Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.81% against the USD and closed at USD1266.10 per ounce, amid a broad weakness in the US Dollar after the Fed kept its interest rates steady and signalled that it may start trimming its balance sheet as soon as September.
In the Asian session, at GMT0300, the pair is trading at 1269.70, with the gold trading 0.28% higher against the USD from yesterday’s close.
The pair is expected to find support at 1256.03, and a fall through could take it to the next support level of 1242.37. The pair is expected to find its first resistance at 1276.73, and a rise through could take it to the next resistance level of 1283.77.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
