Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.26% against the USD and closed at USD1297.80 per ounce, amid optimism over trade talks between the US and China.
In the Asian session, at GMT0300, the pair is trading at 1296.70, with gold trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1293.73, and a fall through could take it to the next support level of 1290.77. The pair is expected to find its first resistance at 1300.23, and a rise through could take it to the next resistance level of 1303.77.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
