Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.75% against the USD and closed at USD1487.00 per ounce on Friday, after the US President, Donald Trump, concluded a partial trade deal with China that delayed tariff increases.
In the Asian session, at GMT0300, the pair is trading at 1490.90, with gold trading 0.26% higher against the USD from Friday’s close.
The pair is expected to find support at 1476.60, and a fall through could take it to the next support level of 1462.30. The pair is expected to find its first resistance at 1506.60, and a rise through could take it to the next resistance level of 1522.30.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
