Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.48% against the USD and closed at USD1444.00 per ounce, amid hopes of an interest rate cut by the US Federal Reserve.
In the Asian session, at GMT0300, the pair is trading at 1440.40, with gold trading 0.25% lower against the USD from yesterday’s close.
The pair is expected to find support at 1435.23, and a fall through could take it to the next support level of 1430.07. The pair is expected to find its first resistance at 1445.63, and a rise through could take it to the next resistance level of 1450.87.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
