Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.31% against the USD and closed at USD1341.1 per ounce, amid the US Federal Reserve’s reluctance to hike interest rates in its September meeting.
In the Asian session, at GMT0300, the pair is trading at 1338.50, with the gold trading 0.19% lower from yesterday’s close.
The pair is expected to find support at 1333.13, and a fall through could take it to the next support level of 1327.77. The pair is expected to find its first resistance at 1345.83, and a rise through could take it to the next resistance level of 1353.17.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
