Gold Movement
For the 24 hours to 23:00 GMT, Gold slightly rose against the USD and closed at USD1315.00 per ounce, following the US Federal Reserve’s dovish stance on future rate hikes.
In the Asian session, at GMT0400, the pair is trading at 1314.90, with gold trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1307.23, and a fall through could take it to the next support level of 1299.57. The pair is expected to find its first resistance at 1324.43, and a rise through could take it to the next resistance level of 1333.97.
The yellow metal is trading between its 20 Hr and 50 Hr moving average.
