• Gold has smashed through the USD 1500 psychological level today.
  • Now the precious metal is heading toward the next support of USD 1480.


Gold has lost around 1.50% of its value today as it seems investors are positioning away from safe havens.

The US 10 year yield is also climbing along with USD/JPY as risk assets become more favourable. Stocks are also higher in general over the EU and US sessions.

The reason for this shift in sentiment is stronger than expected PMI's and a softer tone from the US and China regarding their trade spat.

It was reported that the US and China may make concessions to get the phase one trade deal over the line.

Looking at the 4-hour chart below, gold has taken a battering on the last candle.

There are now two support levels in focus one is the USD 1480 support zone and the other is the trendline support level.

This area between USD 1520 and 1475 per ounce has been a big consolidation zone and any move outside would be considered important.

Gold analysis


Today last price 1487.13
Today Daily Change -21.45
Today Daily Change %  -1.42
Today daily open  1508.58
Daily SMA20 1496.23
Daily SMA50 1504.07
Daily SMA100 1472.77
Daily SMA200 1387.23
Previous Daily High 1514.85
Previous Daily Low 1504.64
Previous Weekly High 1515.38
Previous Weekly Low 1481.1
Previous Monthly High 1519.04
Previous Monthly Low 1455.5
Daily Fibonacci 38.2% 1508.54
Daily Fibonacci 61.8% 1510.95
Daily Pivot Point S1 1503.86
Daily Pivot Point S2 1499.15
Daily Pivot Point S3 1493.65
Daily Pivot Point R1 1514.07
Daily Pivot Point R2 1519.57
Daily Pivot Point R3 1524.28



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