Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.07% against the USD and closed at USD1480.40 per ounce, as investors sought clarity on the fine print of the “phase one” trade deal between the United States and China.
In the Asian session, at GMT0400, the pair is trading at 1481.00, with gold trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1477.83, and a fall through could take it to the next support level of 1474.67. The pair is expected to find its first resistance at 1484.33, and a rise through could take it to the next resistance level of 1487.67.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
