Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.11% against the USD and closed at USD1357.5 per ounce, amid rising speculation that US Fed will slow down the pace of interest rate hikes.
In the Asian session, at GMT0300, the pair is trading at 1352, with the gold trading 0.41% lower from yesterday’s close.
The pair is expected to find support at 1348.03, and a fall through could take it to the next support level of 1344.07. The pair is expected to find its first resistance at 1358.33, and a rise through could take it to the next resistance level of 1364.67.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
