Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.28% against the USD and closed at USD1871.90 per ounce, as rising tensions between the US and China increased demand for the safe haven metal.
In the Asian session, at GMT0300, the pair is trading at 1864.50, with gold trading 0.40% lower against the USD from yesterday’s close.
The pair is expected to find support at 1848.77, and a fall through could take it to the next support level of 1833.03. The pair is expected to find its first resistance at 1877.57, and a rise through could take it to the next resistance level of 1890.63.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
