Gold Movement
Gold prices traded lower by 0.41% against the USD in the 24 hour period ending 23:00GMT, at 1076.80 per ounce, reversing its previous session gains, amid persistent expectations that the US Federal Reserve will raise interest rates next month.
In the Asian session, at GMT0400, the pair is trading at 1070.5, with the gold trading 0.59% lower from Friday’s close.
The pair is expected to find support at 1062.17, and a fall through could take it to the next support level of 1053.83. The pair is expected to find its first resistance at 1083.07, and a rise through could take it to the next resistance level of 1095.63.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
