Gold, like other defense assets, completed yesterday's trading in the red zone against the backdrop of positive news on the progress of US-China trade talks.
Donald Trump said yesterday that talks the first day went very well. White House spokesman also noted that the results of the first day of talks far exceeded their expectations. This kind of comments increase the likelihood of the conclusion of the interim agreement and cancel the new US duties scheduled for the next week and December.
Against the background of these statements by the demand for riskier and higher-yielding assets rose sharply, which always has a negative effect on gold.
Today, the US economic calendar, there is no important news, so the main impact on the dynamics of the market movement will have a news geopolitics. The focus will continue to trade negotiations the US and China. Positive news out of Washington will increase pressure on the Yellow metal.
In the graph on the graph of the level of 1510.00 price resumed its downward movement. The main goal, at 1485.00, has not yet been reached, so the priority today remains the downward motion vector.
Levels of resistance: 1500.00, 1510.00, 1525.00;
Support levels: 1485.00, 1475.00, 1460.00.
The main scenario - decline to 1485.00 from current levels.
Alternative - the breakdown of the intraday resistance at 1500.00, rising to 1510.00, and the resumption of the downward movement.
The market is dominated by negative fundamental background. On forward to continuing a downward wave. We consider the sale of the levels 1500.00 and 1510.00 (a safer entry point)
Gold prices forecast today FORTFS