For the 24 hours to 23:00 GMT, Gold rose 0.85% against the USD and closed at USD1738.20 per ounce, as concerns over global economic slowdown and renewed US-China trade tensions, increased demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1742.70, with gold trading 0.26% higher against the USD from yesterday’s close.
The pair is expected to find support at 1723.63, and a fall through could take it to the next support level of 1704.57. The pair is expected to find its first resistance at 1754.13, and a rise through could take it to the next resistance level of 1765.57.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
