For the 24 hours to 23:00 GMT, Gold declined 0.40% against the USD and closed at USD1206.90 per ounce amid hopes for a new round of US-China trade talks.
In the Asian session, at GMT0300, the pair is trading at 1209.30, with gold trading 0.20% higher against the USD from yesterday’s close.
The pair is expected to find support at 1203.53, and a fall through could take it to the next support level of 1197.77. The pair is expected to find its first resistance at 1216.53, and a rise through could take it to the next resistance level of 1223.77.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
