Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.50% against the USD and closed at USD1337.50 per ounce, amid escalating US-China trade tensions and expectations of interest rate cut by the US Federal Reserve.
In the Asian session, at GMT0300, the pair is trading at 1340.30, with gold trading 0.21% higher against the USD from yesterday’s close.
The pair is expected to find support at 1334.43, and a fall through could take it to the next support level of 1328.57. The pair is expected to find its first resistance at 1344.23, and a rise through could take it to the next resistance level of 1348.17.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
