Gold Movement
Gold prices traded lower by 0.33% against the USD in the 24 hour period ending 23:00GMT, at 1080.90 per ounce, amid expectations that the US Federal Reserve will raise interest rates next month.
In the Asian session, at GMT0400, the pair is trading at 1092.4, with the gold trading 1.06% higher from Friday’s close.
The pair is expected to find support at 1083.20, and a fall through could take it to the next support level of 1074.00. The pair is expected to find its first resistance at 1097.30, and a rise through could take it to the next resistance level of 1102.20.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
