Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.74% against the USD and closed at USD1479.30 per ounce, as the US Federal Reserve’s decision to hold interest rate steady through 2020 boosted demand for the safe haven asset and ahead of tariff deadline.
In the Asian session, at GMT0400, the pair is trading at 1479.70, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1469.90, and a fall through could take it to the next support level of 1460.10. The pair is expected to find its first resistance at 1486.50, and a rise through could take it to the next resistance level of 1493.30.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
