For the 24 hours to 23:00 GMT, Gold declined 1.42% against the USD and closed at USD1499.30 per ounce, amid rise in risk appetite following hopes of positive trade talks between US and China.
In the Asian session, at GMT0300, the pair is trading at 1501.60, with gold trading 0.15% higher against the USD from yesterday’s close.
The pair is expected to find support at 1492.40, and a fall through could take it to the next support level of 1483.20. The pair is expected to find its first resistance at 1513.70, and a rise through could take it to the next resistance level of 1525.80.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.