Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.22% against the USD and closed at USD1533.10 per ounce on Friday, amid reports that the US and China would resume trade negotiations.
In the Asian session, at GMT0300, the pair is trading at 1534.40, with gold trading 0.08% higher against the USD from Friday’s close, as the United States and China launched fresh tariffs on each other’s exports.
The pair is expected to find support at 1526.03, and a fall through could take it to the next support level of 1517.67. The pair is expected to find its first resistance at 1542.33, and a rise through could take it to the next resistance level of 1550.27.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
