Gold traded slightly lower on Monday during the Asian session at 1463.09 after hitting new six-year highs in the previous session on escalating Sino-U.S. trade tensions. Tensions between China and the U.S. began to rise again last week after U.S. President Donald Trump imposed new tariffs on Chinese goods. On Monday, China allowed the yuan to fall to its weakest level in a decade against the dollar and requested that its state-owned companies halt imports of U.S. agricultural products. Trump tweeted overnight that China’s move was clearly “currency manipulation,” Investors have bought Gold as a safe haven currency but also since most analysts are expecting another Fed rate interest cut next month.
GOLD Support & Resistance Table - 06/08/2019
Support & Resistance Level Explanation
Resistance 2 1480.00 Daily R2
Resistance 1 1469.00 Daily R1
Support 1 1451.17 Daily S1
Support 2 1441.13 Daily S2
GOLD Indicator Table - 06/08/2019
Indicator Signal
SMA 20 Sell
SMA 50 Buy
SMA 100 Buy
MACD Buy
RSI Neutral
Stochastic Neutral


Thread: 
Thanks
Currently Active Users
Forex Forum India Statistics