For the 24 hours to 23:00 GMT, Gold rose 0.26% against the USD and closed at USD1203.60 per ounce, ahead of the US Federal Reserve’s monetary policy meeting.
In the Asian session, at GMT0300, the pair is trading at 1202.70, with gold trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1197.93, and a fall through could take it to the next support level of 1193.17. The pair is expected to find its first resistance at 1208.13, and a rise through could take it to the next resistance level of 1213.57.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
