Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.44% against the USD and closed at USD1238.90 per ounce, amid a broad strength in the greenback after the US Fed hinted that it could tighten monetary policy as early as next month.
In the Asian session, at GMT0300, the pair is trading at 1240.90, with the gold trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 1232.30, and a fall through could take it to the next support level of 1223.70. The pair is expected to find its first resistance at 1253.60, and a rise through could take it to the next resistance level of 1266.30.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
