Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.62% against the USD and closed at USD1200.90 per ounce, as concerns about an imminent rate hike by the Fed next week weighed on the yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1198.10, with the gold trading 0.23% lower from yesterday’s close.
The pair is expected to find support at 1193.97, and a fall through could take it to the next support level of 1189.83. The pair is expected to find its first resistance at 1205.57, and a rise through could take it to the next resistance level of 1213.03.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
