Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.41% against the USD and closed at USD1489.80 per ounce, as concerns about the health of major global economies buoyed demand for the safe-haven asset.
In the Asian session, at GMT0400, the pair is trading at 1492.80, with gold trading 0.20% higher against the USD from yesterday’s close, amid weak US economic data and concerns over US-China trade deal.
The pair is expected to find support at 1486.47, and a fall through could take it to the next support level of 1480.13. The pair is expected to find its first resistance at 1496.27, and a rise through could take it to the next resistance level of 1499.73.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
