Gold prices traded higher during the Asian session on Tuesday at 1392.11 boosted by safe-haven sentiment emanating from weak global manufacturing data that suggested an economic slowdown, a day after the metal declined more than 1% on expectations of a U.S.-China trade truce. Factory activity shrank across much of Europe and Asia in June while growth in manufacturing cooled in the United States, keeping the world’s policymakers under pressure to avert a recession amid a U.S.-China trade war. The US dollar was also trading slightly lower this morning, which tends to make the precious metal more attractive to holders of foreign currency, as it is calculated in dollars.
GOLD Support & Resistance Table - 02/07/2019
Support & Resistance Level Explanation
Resistance 2 1398.92 Daily R2
Resistance 1 1395.92 Daily R1
Support 1 1385.92 Daily S1
Support 2 1382.92 Daily S2


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