Gold prices edged upwards during European trading hours on doubts that the highly anticipated meeting between the United States and China would ease trade tensions, driving bullion to its best month in three-years. Up nearly 1.2% so far this week, the metal is also set to post its sixth consecutive weekly rise. The leaders of the G20 countries meet on Friday and Saturday in Osaka, Japan, with a meeting between Trump and Xi scheduled for Saturday.
The trade tensions weighed on equity markets, boosting the appeal of safe-haven bullion. The prospect of a number of interest rate cuts this year has also seen investors pushing prices higher.
GOLD Support & Resistance Table - 28/06/2019
Support & Resistance Level Explanation
Resistance 2 1405.65 Daily R2
Resistance 1 1413.75 Daily R1
Support 1 1376.04 Daily S1
Support 2 1362.50 Daily S2