For the 24 hours to 23:00 GMT, Gold declined 0.75% against the USD and closed at USD1487.00 per ounce on Friday, after the US President, Donald Trump, concluded a partial trade deal with China that delayed tariff increases.

In the Asian session, at GMT0300, the pair is trading at 1490.90, with gold trading 0.26% higher against the USD from Friday’s close.

The pair is expected to find support at 1476.60, and a fall through could take it to the next support level of 1462.30. The pair is expected to find its first resistance at 1506.60, and a rise through could take it to the next resistance level of 1522.30.

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The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.


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