For the 24 hours to 23:00 GMT, Gold rose 0.23% against the USD and closed at USD1532.10 per ounce, amid rising fears over slowdown in global economic growth and uncertainty about US-China trade deal.
In the Asian session, at GMT0300, the pair is trading at 1529.20, with gold trading 0.19% lower against the USD from yesterday’s close.
The pair is expected to find support at 1518.80, and a fall through could take it to the next support level of 1508.40. The pair is expected to find its first resistance at 1539.10, and a rise through could take it to the next resistance level of 1549.00.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.