Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.07% against the USD and closed at USD1306.60 per ounce, after the Fed reiterated that interest rates would rise only gradually.
In the Asian session, at GMT0300, the pair is trading at 1309.40, with gold trading 0.21% higher against the USD from yesterday’s close.
The pair is expected to find support at 1304.43, and a fall through could take it to the next support level of 1299.47. The pair is expected to find its first resistance at 1314.63, and a rise through could take it to the next resistance level of 1319.87.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
