Gold: Yellow metal trading higher in the morning session

Gold

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.

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