Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.07% against the USD and closed at USD1337.60 per ounce, as renewed concerns over global trade war led to decline in the greenback and increased demand for the safe haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1334.30, with gold trading 0.25% lower against the USD from yesterday’s close, as fears over US-China trade war eased, after US agreed to negotiate on tariffs with China.
The pair is expected to find support at 1327.63, and a fall through could take it to the next support level of 1320.97. The pair is expected to find its first resistance at 1346.73, and a rise through could take it to the next resistance level of 1359.17.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
