Gold is retreating this Monday on the back of easing trade tensions between the US and China. The level to beat for sellers is $1,530.00/oz and 1,510.00 support. Gold daily chart Gold is off multi-year highs after peaking at 1,554.63 earlier this Monday. Both China and the US appear willing to negotiate, therefore decreasing the demand for the safe-haven non-yielding asset. Gold 4-hour chart The yellow metal closed the weekly gap as the market is hovering near 1,530.00. Bulls would need to defend this level to create a potential move up towards 1,550.00 resistance. Gold 30-minute chart Gold is challenging the 1,530.00 support and the 50 SMA. If the sellers keep the pressure on the metal, the market could reach 1,510.00 and 1,490.00 to the downside. Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next RBNZ: Expect a further cut in November – ANZ FX Street 4 years Gold is retreating this Monday on the back of easing trade tensions between the US and China. The level to beat for sellers is $1,530.00/oz and 1,510.00 support. Gold daily chart Gold is off multi-year highs after peaking at 1,554.63 earlier this Monday. Both China and the US appear willing to negotiate, therefore decreasing the demand for the safe-haven non-yielding asset. Gold 4-hour chart The yellow metal closed the weekly gap as the market is hovering near 1,530.00. Bulls would need to defend this level to create a potential move up towards… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
