Gold vs U.S. dollar: Gold attempts to recover at 1470.00

Denis Joeli Fatiaki Independent Analyst

Gold vs U.S. dollar recovery was cut short, only managed to reach 1492.20 as per my previous estimate before sliding below 1487.00 support and diving down to 1460.00. Gold prices were weakened against the dollar by the support of the U.S./China trade deal news which saw the dollar extended its rally during the overnight session and pushed Gold prices down.

Gold prices have made some improvement to the upside after falling to 1460.00, trading at around 1470.00 during the time of writing. Gold prices need to breakthrough 1470.00 and 1474.00 before we could see further moves to the upside. Support is at around 1463.00, 1458.30, and 1453.60

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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