Gold Movement
Gold prices traded lower by 0.23% against the USD in the 24 hour period ending 23:00GMT, at 1089.20 per ounce, reversing its previous session gains, on renewed expectations that the US Federal Reserve will hike interest rates in December.
In the Asian session, at GMT0400, the pair is trading at 1090.7, with the gold trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 1084.87, and a fall through could take it to the next support level of 1079.03. The pair is expected to find its first resistance at 1095.67, and a rise through could take it to the next resistance level of 1100.63.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
