Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.27% against the USD and closed at USD1489.90 per ounce, ahead of the US Federal Reserve’s interest rate decision.
In the Asian session, at GMT0400, the pair is trading at 1490.70, with gold trading 0.05% higher against the USD from yesterday’s close.
The pair is expected to find support at 1485.17, and a fall through could take it to the next support level of 1479.63. The pair is expected to find its first resistance at 1496.67, and a rise through could take it to the next resistance level of 1502.63.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
