For the 24 hours to 23:00 GMT, Gold rose 0.56% against the USD and closed at USD1350.20 per ounce, amid cautious investor sentiment ahead of the Federal Reserve’s monetary policy outcome.
In the Asian session, at GMT0300, the pair is trading at 1347.90, with gold trading 0.17% lower against the USD from yesterday’s close.
The pair is expected to find support at 1340.90, and a fall through could take it to the next support level of 1333.90. The pair is expected to find its first resistance at 1356.70, and a rise through could take it to the next resistance level of 1365.50.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.