For the 24 hours to 23:00 GMT, Gold declined 0.29% against the USD and closed at USD1422.90 per ounce, after Federal Reserve Chairman, Jerome Powell’s, remarks reduced rate cut expectations.
In the Asian session, at GMT0300, the pair is trading at 1411.10, with gold trading 0.83% lower against the USD from yesterday’s close.
The pair is expected to find support at 1400.23, and a fall through could take it to the next support level of 1389.37. The pair is expected to find its first resistance at 1432.43, and a rise through could take it to the next resistance level of 1453.77.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
