For the 24 hours to 23:00 GMT, Gold declined 0.31% against the USD and closed at USD1467.50 per ounce on Friday, as renewed hopes over US-China trade deal dented demand for the safe haven asset.
In the Asian session, at GMT0400, the pair is trading at 1466.30, with gold trading 0.08% lower against the USD from Friday’s close.
The pair is expected to find support at 1462.73, and a fall through could take it to the next support level of 1459.17. The pair is expected to find its first resistance at 1469.93, and a rise through could take it to the next resistance level of 1473.57.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
