Gold: Yellow metal trading lower in the morning session

Gold

Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 1.34% against the USD and closed at USD1144.60 per ounce, amid a surge in the greenback as the US Federal Reserve raised interest rates for the second time in a decade.

In the Asian session, at GMT0400, the pair is trading at 1143.90, with the gold trading 0.06% lower from yesterday’s close.

The pair is expected to find support at 1130.87, and a fall through could take it to the next support level of 1117.83. The pair is expected to find its first resistance at 1162.47, and a rise through could take it to the next resistance level of 1181.03.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

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