Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.51% against the USD and closed at USD1255.20 per ounce, amid strength in the US Dollar.
In the Asian session, at GMT0300, the pair is trading at 1258.30, with the gold trading 0.25% higher from yesterday’s close, with investors awaiting minutes of the US Fed’s September meeting, due later today, which are expected to reveal the central bank’s overall stance on interest rates.
The pair is expected to find support at 1252.40, and a fall through could take it to the next support level of 1246.5. The pair is expected to find its first resistance at 1264.10, and a rise through could take it to the next resistance level of 1269.90.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
