For the 24 hours to 23:00 GMT, Gold rose 0.51% against the USD and closed at USD1336.70 per ounce, amid expectations that the Federal Reserve would cut interest rates in the upcoming policy meeting.
In the Asian session, at GMT0300, the pair is trading at 1334.60, with gold trading 0.16% lower against the USD from yesterday’s close.
The pair is expected to find support at 1326.90, and a fall through could take it to the next support level of 1319.20. The pair is expected to find its first resistance at 1345.60, and a rise through could take it to the next resistance level of 1356.60.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
