Gold Movement
Gold prices traded 0.43% lower against the USD in the 24-hour period ending 23:00GMT, at 1210.10 per ounce, after oscillating between gains and losses throughout the session, as investors weighed the possibility of the US Federal Reserve increasing interest rates in the near-term.
In the Asian session, at GMT0300, the pair is trading at 1213.10, with the gold trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 1208.13, and a fall through could take it to the next support level of 1203.17. The pair is expected to find its first resistance at 1219.03, and a rise through could take it to the next resistance level of 1224.97.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
