Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.51% against the USD and closed at USD1461.00 per ounce, amid strength in the US dollar and amid growing optimism over the US-China trade pact.
In the Asian session, at GMT0400, the pair is trading at 1462.30, with gold trading 0.09% higher against the USD from yesterday’s close, as President Donald Trump’s move to sign legislation supporting Hong Kong protesters stoked worries over the possibility of a trade deal.
The pair is expected to find support at 1458.53, and a fall through could take it to the next support level of 1454.77. The pair is expected to find its first resistance at 1466.63, and a rise through could take it to the next resistance level of 1470.97.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
