Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 2.22% against the USD and closed at USD1527.10 per ounce, amid renewed optimism over US-China trade deal.
In the Asian session, at GMT0300, the pair is trading at 1523.70, with gold trading 0.22% lower against the USD from yesterday’s close.
The pair is expected to find support at 1505.70, and a fall through could take it to the next support level of 1487.70. The pair is expected to find its first resistance at 1550.30, and a rise through could take it to the next resistance level of 1576.90.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
