Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.14% against the USD and closed at USD1480.00 per ounce, as optimism over the US-China trade deal resurfaced.
In the Asian session, at GMT0400, the pair is trading at 1481.30, with gold trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1475.37, and a fall through could take it to the next support level of 1469.43. The pair is expected to find its first resistance at 1488.57, and a rise through could take it to the next resistance level of 1495.83.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
