Gold traded stable to slightly higher in the Asian session on Thursday at 1419.35 after hitting a one-week high in the previous session, as gains in stock markets offset support from a weaker dollar and prospects of an interest rate cut by the U.S. Fed. The Greenback meanwhile was slightly down, as falling Treasury yields fueled expectations of Fed cutting interest rates at its July 30-31 meeting. Meanwhile, Asian stocks advanced tracking sharp gains on Wall Street. President Donald Trump warned Iran on Wednesday against making threats after Tehran announced it would breach a 2015 nuclear deal. Geopolitical tensions in the Middle East supports Gold due to its status as a safe haven asset.
GOLD Support & Resistance Table - 04/07/2019
Support & Resistance Level Explanation
Resistance 2 1427.05 Daily R2
Resistance 1 1424.05 Daily R1
Support 1 1414.05 Daily S1
Support 2 1411.05 Daily S2


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