Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.93% against the USD and closed at USD1551.00 per ounce, amid weakness in the US equities and continuing US-China trade tensions.
In the Asian session, at GMT0300, the pair is trading at 1543.80, with gold trading 0.46% lower against the USD from yesterday’s close.
The pair is expected to find support at 1535.23, and a fall through could take it to the next support level of 1526.67. The pair is expected to find its first resistance at 1553.43, and a rise through could take it to the next resistance level of 1563.07.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
