Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.06% against the USD and closed at USD1257.50 per ounce, after the minutes of the most recent FOMC meeting confirmed disputes within the Fed officials regarding the timing of next interest rate hike.
In the Asian session, at GMT0300, the pair is trading at 1260.70, with the gold trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 1254.03, and a fall through could take it to the next support level of 1247.37. The pair is expected to find its first resistance at 1264.53, and a rise through could take it to the next resistance level of 1268.37.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
