For the 24 hours to 23:00 GMT, Gold declined 1.07% against the USD and closed at USD1537.40 per ounce, amid optimism over US-China trade deal, after both the countries agreed to renegotiate the trade deal.
In the Asian session, at GMT0300, the pair is trading at 1537.30, with gold trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1529.90, and a fall through could take it to the next support level of 1522.50. The pair is expected to find its first resistance at 1549.60, and a rise through could take it to the next resistance level of 1561.90.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
